1. The matching concept addresses

A. the relationship between the journal and Balance Sheet.

B. requires that expenses be matched with the revenues they help generate.

C. requires that the dollar amount of debits equal the dollar amount of credits on a Trial Balance.

D. determines whether an accounts normal balance is a debit or credit.

2.Which of the following statements regarding horizontal analysis is FALSE?

	A. Horizontal analysis is used to compare an item in a current periods statement with the same item in a prior periods statement.
	B. If fees earned in 2020 are $150,000 and fees earned in 2021 are $187,500, horizontal analysis will indicate a 25% increase.
	C. If salary expense in 2020 is $100,000 and salary expense in 2021 is $150,000, horizontal analysis will indicate a 33% increase.
	D. When two statements are compared in horizontal analysis, the earlier periods statement is used as the base for computing the amount and the percent of change

3. A journal entry must consist of

Question 2 options:

	A. any number of debit and credit entries as long as the NUMBER of debits and credits are the same.
	B. any combination of debit and credit entries as long as the total DOLLAR AMOUNTS of debits and credits is the same.
	C. a single debit entry and a single credit entry.
	D. two credit entries if they are the same amounts.