Bookkeeping basics - Samenvattingen en Aantekeningen

Bookkeeping Basics - Accounting Cycle (Part 1) Assessment Questions with Verified Solutions What is the difference between a debit and a credit in the journal? A debit increases asset or expense accounts and decreases liability or revenue accounts, while a credit decreases asset or expense accounts and increases liability or revenue accounts. How is the balance sheet affected by the closing process? The balance sheet is affected by the closing process as it updates the retained ea...

INTUIT ACADEMY BOOKKEEPING PROFESSIONAL CERTIFICATE; BOOKKEEPING BASICS...

Bookkeeping Basics Part 10 UPDATED Exam Questions and CORRECT Answers Anything a business owns of value, or a resource of value, that has the potential to be transformed into cash. - CORRECT ANSWER - Asset The list of all of the accounts and sub-accounts used to categorize transactions. - CORRECT ANSWER - Chart of accounts

Bookkeeping Basics UPDATED ACTUAL Exam Questions and CORRECT Answers four key bookkeeping elements Honesty - CORRECT ANSWER - Reporting financial data in an accurate and timely manner Owning any mistakes and doing everything you can to fix them Being open and transparent with your client about the state of their finances

Intuit Academy Bookkeeping Professional Certificate: Bookkeeping Basics (Questions & Accurate Solutions)

Bookkeeping Basics Part 10 Exam Questions and Answers

Bookkeeping basics Exam

Intuit Academy Bookkeeping Professional Certificate Bookkeeping Basics

Intuit Academy Bookkeeping Professional Certificate: Bookkeeping Basics ACTUAL Exam Questions and CORRECT Answers The Accounting Principle - CORRECT ANSWER - You can't mix business and personal assets or expenses. Accounting Equation - CORRECT ANSWER - Assets = Liabilities + Owner's Equity or Assets - Liabilities = Owner's Equit

Intuit Academy Bookkeeping Professional Certificate: Bookkeeping Basics Questions With Verified Answers The Accounting Principle Correct Answer: You can't mix business and personal assets or expenses. Accounting Equation Correct Answer: Assets = Liabilities + Owner's Equity or Assets - Liabilities = Owner's Equity Steps in the Accounting Cycle Correct Answer: 1. Collect, analyze, and post transactions to the Journal 2. Post transactions to the ledger 3. Prepare an unadjusted tri...