Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. If you need to make one account a sub-account of another, what condition needs to be met? a) Both accounts must be numbered. b)

image text in transcribed
2. If you need to make one account a sub-account of another, what condition needs to be met? a) Both accounts must be numbered. b) The sub-account must be a contra account. c) The header account must be a contra account. d) Both accounts must be the same account type. 3. Which statement about revenue is true? a) Every deposit brings revenue into the business b) Revenue is earned by business activities. c) Only sales and interest are considered revenue. d) A capital contribution is a business's first revenue. 4. Which of the following actions is not allowed when you create or edit a GL account? a) Using a colon in the name b) Changing the account name c) Making the account a sub account d) Changing the account number 5. The shortcut to edit an account in the Chart of Accounts is: a) Ctrl+N b) Ctrl + W c) Ctrl + E d) Ctrl + F 2

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Essentials For Hospitality Managers

Authors: Chris Guilding, Kate Mingjie Ji

4th Edition

1032024321, 9781032024325

More Books

Students also viewed these Accounting questions

Question

Evaluate the following integrals:

Answered: 1 week ago

Question

Under what circumstances do your customers write complaint letters?

Answered: 1 week ago