Bookkeeping test guide - Study guides, Class notes & Summaries

SUMMARY OF QUESTIONS BY STUDY OBJECTIVES AND BLOOM’S TAXONOMY Item SO BT Item SO BT Item SO BT Item SO BT Item SO BT True-False Statements 1. 1 K 9. 2 K 17. 4 K 25. 6 C sg33. 2 K 2. 1 K 10. 2 K 18. 4 C 26. 6 K sg34. 3 K 3. 1 C 11. 2 K 19. 5 C 27. 6 K sg35. 6 C 4. 1 C 12. 2 K 20. 5 K 28. 6 K sg36. 6 K 5. 1 K 13. 2 K 21. 5 C 29. 6 K sg37. 6 K 6. 1 K 14. 2 K 22. 6 K a 30. 7 K 7. 1 C 15. 3 C 23. 6 C sg31. 1 K 8. 2 K 16. 3 K 24. 6 C sg32. 2 K Multiple Choice Questions 38. 1 K 62. 2 K 8...

NASCLA Contractors Guide Arkansas 5th edition Exam Questions with Correct Answers 2 - answerHow many members of the board are consumers? right to work - answerwhat laws secure the right of employees to decide if they wish to support or join a union? Consideration - answer__________ is anything of value Social Security Card - answerwhich of the following establishes an employee's eligibility to leagally work in the united states? foul language - answerwhich of the following should not be tolerat...

Auditing Practice Exam 98 Questions with Verified Answers 1) An accountant: A) must possess expertise in the accumulation of audit evidence. B) must decide the number and types of items to test. C) must have an understanding of the principles and rules that provide the basis for preparing the accounting information. D) must be a CPA. - CORRECT ANSWER C The two major factors affecting acceptable audit risk are: A) inherent risk and the intended uses of the financial statements B) co...

Test Bank for Accounting Principles 14th Edition (Kimmel Jill E. Mitchell, 2024), All Chapters Covered, Complete Guide A+. CHAPTER 1 ACCOUNTING IN ACTION CHAPTER LEARNING OBJECTIVES 1. Identify the activities and users associated with accounting. Accounting is an information system that identifies, records, and communicates the economic events of an organization to interested users. The major users and uses of accounting are as follows: (a) Management uses accounting information to plan, organiz...

accounting balance - ANSWER-The arithmetic sum of the additions and subtractions to an access through a given date. accrual - ANSWER-The process of recognizing revenue that has been earned but not collected, or an expense that has been incurred but not paid. accrued - ANSWER-Describes revenue that has been earned and a related asset that will be collected, or an expense that has been incurred and a related liability that will be paid. adjustment - ANSWER-An entry usually made during the...

Source Document - ANSWER-Proof of a certain transaction Examples of bookkeeping forms - ANSWER-General ledger, general journal, bank reconciliation If an asset and/or expense account is debited it is - ANSWER-Increased If a revenue account is increased, it is - ANSWER-Credited Debits and Credits should balance in a general journal entry - ANSWER-Yes The Chart of Accounts is comprised of how many account groups - ANSWER-6 The Chart of Accounts is used to - ANSWER-Properly classi...

When should day-sheets be updated? - ANSWER-As each transaction takes place Which manual bookkeeping system has a built-in way to check for errors? - ANSWER-Double-entry system In which of the following ledgers must an outstanding patient balance be recorded? - ANSWER-Both the patient ledger and the accounts receivable ledger When stamped on a check, what does NSF stand for? - ANSWER-Non-sufficient funds Which of the following best describes an accounts payable ledger? - ANSWER-A boo...

Auditing and Assurance Services, 16e (Arens/Elder/Beasley) Chapter 1 The Demand for Audit and Other Assurance Services 1.1 Learning Objective 1-1 1) In the auditing process A) the types and amounts of evidence remain constant from audit to audit. B) the criteria for evaluating information will not vary depending on the information being audited. C) the audit report communicates the auditor's findings to users. D) records are gathered by the auditor to determine whether the audited informa...

An amount entered on the left-hand side of an account, recording money paid out - ANSWER-debit A book of accounts - ANSWER-ledger Customers who owe money for goods or services not yet paid for - ANSWER-debtors an amount entered on the right-hand side of an account, recording a payment received - ANSWER-credit goods stored ready for sale - ANSWER-stock suppliers who are owed money for purchases not yet paid for - ANSWER-creditors .....................shows where money comes fro...

NCE Ethics (2022/2023) Rated A Holder of the Privilege Legal term; Privileged communications are related to admissions in court, as opposed to confidentiality, which deals with all communications. 'Privilege' statutes give patients of certain providers the right to prevent the provider from revealing information in a court proceeding. These statutes demonstrate that the state's legislative bodies consider the trust relationship between the client and the practitioner to be more important than...