18 Which of the following is a list of all accounts a company uses and includes an identification number assigned to each account? A ledger A chart of accounts A journal. A trial balance A source document QUESTION 19 The process of transferring journal entry information to the ledger is called which of the following? Journalizing Posting Balancing Analyzing None of the above QUESTION 20 An item of merchandise was sold with an invoice price of $400 and credit terms of 2/10, n/30. The entry to record the sale would include a credit to Sales of what amount? $400 $396 $408 $392 $404 Click Save and Submit to save and submit. Click Save All Answers to save all answers. MacBook Air DII DD 8= Save All Answe F Remaining Time: 1 hour, 02 minutes, 15 seconds. v Question Completion Status: QUESTION 21 A broad rule adopted by the accounting profession as a guide in measuring, recording, and reporting the financial affairs and activities of a business is known as which of the following? Accounting concept Accounting principle Basic accounting equation Objectivity principle Recognition principle QUESTION 22 The ABC Company's employees eam $15,000 for each five-day workweek ending every Friday. If the fiscal year ends on a Tuesday, what adjusting entry should be recorded? Debit Salary Expense $15,000 and Credit Salaries Payable $15,000. Debit Salary Expense $6,000 and Credit Salaries Payable $6,000. Debit Salary Expense $9,000 and Credit Salaries Payable $9,000. Debit Salaries Payable $10,000 and Credit Salary Expense $10,000. None of the above. QUESTION 23 What are the two classifications of operating expenses on a multi-step income statement? Cost of Goods Sold and Selling expenses Selling expenses and General and Administrative expenses Selling expenses and Other expenses and losses O General and Administrative expenses and Interest expenses Cost of Goods Sold and General and Administrative expenses Click Save and Submit to save and submit. Click Save All Answers to save all ansur MacBook Air 4 points 4 points 4 points Save All Antwers Sav Dil DD Q F5 F6 F7 FR F9 F10 F Question Completion Status: QUESTION 23 What are the two classifications of operating expenses on a multi-step income statement? Cost of Goods Sold and Selling expenses Selling expenses and General and Administrative expenses Selling expenses and Other expenses and losses General and Administrative expenses and Interest expenses Cost of Goods Sold and General and Administrative expenses QUESTION 24 Revenue and expense accounts at the beginning and end of the accounting period should have which of the following? A balance of zero Balances of cumulative amounts of activity during the period A net balance (credits minus debits) equal to the balance of the Retained Earnings account A net balance equal to assets minus liabilities None of the above QUESTION 25 Under a perpetual inventory system merchandise is purchased on account. Which is the correct journal entry to record this purchase? Debit to Purchases and a credit to Cash Debit to Merchandise Inventory and a credit to Accounts Payable Debit to Merchandise Inventory and a credit to Cash Debit to Purchases Returns and Allowances and a credit to Cost of Goods Sold None of the above Click Save and Submit to save and submit. Click Save All Answers to save all answers MacBook Air 4 po 4 poin 4 points Save All Answers S DII DA D F6 F7 F8 F9 F10 F11