Double entry bookkeeping - Study guides, Class notes & Summaries
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Double Entry Bookkeeping questions with correct answers
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Double Entry Bookkeeping questions with correct answers
Double Entry Bookkeeping
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MIE 201 Test 5 Makanui verified to pass 2023/2024
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MIE 201 Test 5 
accounting - correct answer the recording, measurement, and interpretation of financial information 
 
certified public accountant (CPA) - correct answer an individual who has been state certified to provide accounting services ranging from the preparation of financial records and the filing of tax returns to complex audits of corporate financial records 
 
forensic accounting - correct answer accounting that is fit for legal review, involves analyzing financial documents in sea...
4; DOUBLE ENTRY BOOKKEEPING
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Double Entry Bookkeeping Exam Questions and Answers
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Double entry accounting - ANSWER-A method of bookkeeping which records each financial transaction twice using debits and credits. 
 
Double entry bookkeeping system - ANSWER-A method of bookkeeping that reflects the dual nature of each transaction as it affects the business. 
 
Ledger - ANSWER-A book in which entries posted from the journals are re-organized into accounts. 
 
Journal - ANSWER-A book or set of books where your transactions are first entered. 
 
Journal entries - ANSWER-A term use...
ACCOUNTING - DOUBLE ENTRY BOOKKEEPING QUESTIONS WITH COMPLETE ANSWERS
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Accounting - Double Entry bookkeeping Questions and Answers
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The 3 components of a balance sheet - ANSWER-Assets, Liabilities and Capital 
 
The two main statements in a set of financial accounts - ANSWER-Balance sheet and Profit and loss account. 
 
Reasons accounting records are kept by businesses - ANSWER-To provide a permanent record of financial transactions. 
To provide information from which financial accounts can be prepared. 
To provide information from which management reports can be prepared. 
To provide a means of controlling assets. 
To provi...
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Financial Edge Training Exam 2023
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Financial Edge Training Exam 2023 
Copy right - Excel - ANS-Ctrl + r 
Formulas involving cells - Excel - ANS-=(Inset cell + Insert other cell) * Other cell 
The use of the plus sign or Asterix above is just one of many examples of how one can use equations 
Copy down - Excel - ANS-Ctrl + d 
Summing in excel - ANS-=Sum(input source cell and shift down/up) 
Balance Sheet - ANS-A financial statement that reports assets, liabilities, and owner's equity on a specific 
date. 
Assets = Liabilities + ...
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Bookkeeping Ch 1-6 Questions and Answers Already Passed
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Bookkeeping Ch 1-6 Questions and 
 
Answers Already Passed 
 
What is the primary purpose of bookkeeping? 
 The primary purpose of bookkeeping is to systematically record and organize financial 
transactions to provide accurate financial information. 
 
What is an account in bookkeeping? 
 An account is a record used to track financial transactions related to a specific asset, 
liability, equity, revenue, or expense. 
 
What is the difference between a debit and a credit? 
 
 A debit increases a...
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Intuit Certified Bookkeeping Professional Project Workbook First Edition
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Intuit Certified Bookkeeping Professional Project Workbook First Edition 
Table of Contents 
 
Introduction	1 
Best Practices Using LearnKey’s Online Training	2 
Using This Workbook	3 
Skills Assessment	4 
Intuit Certified Bookkeeping Professional Video Times	5 
Domain 1 Lesson 1	6 
Fill-in-the-Blanks	7 
Ethical Responsibilities	8 
Accounting Equation	9 
Important Financial Reports	10 
Double-Entry Accounting and T-Accounts	11 
Transaction Journal and General Ledger	12 
Domain 1 Lesson 2	13 
...
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