Check my answers ? 10 points!
(where i put a star are my answers)
1)which of the following is not a core module of accounting?
accounts receivable
accounts payable*
debt collection
purchase orders
2) what is a general ledger also known as?
a nominal ledger*
a normal ledger
an enumerated ledger
none of the above
3) which of the following is not one of the seven basic accounting categories?
asset*
gains
losses
investment
4) the listing of the account names and the sum of the account balances is called a what?
a total balance
a complete balance
an absolute balance*
a trial balance
5) which of the following should be included in a general ledger?
date
description
total amount for each account
all of the above*
6) what kind of statement is also known as a profit and loss statement?
complete statement
income statement*
investment statement
earnings statement
7) what kind of statement shows how changes in balance sheet and income accounts affected cash and cash equivalents?
cash flow statement
investment statement
earnings statement*
income statement
income statement
8) a balance sheet is often described as a of the company's financial condition on a given date.
picture
snapshot
photo*
slideshow
9) what is the purpose of an income statement?
to show managers and investors whether the company is up-to-date on taxes
to show managers and investors whether the company is spending money appropriately
to show managers and investors whether the company made or lost money during the period
none of the above*