ge.edu/ultra/courses/-45359 1/outline/assessment/_3131546 1/overview/attempt/_8864337_1?courseld=_45359 1 How I record transactions associated with goods sold, labor expense, and rent are a part of which Branch of Accounting? A Cost Accounting B) Bookkeeping C Financial Accounting D Audit Accounting Question 2 5 Points Which portion of a hospitality business's transaction and analysis process would most often by undertaken by the business's owner or general manager? A Financial analysis B Recording of guest purchases C Summary accounting D Basic bookkeeping Question 3 5 Points Which would be the first action to occur in a hospitality business's transaction recording and analysis process? A Financial analysis B Guest purchase C Summary accounting D) Basic bookkeeping 3 The due date for this submission has passed. New attempts will be marked as lote SAMSUNG a s A & 4 5 Backspace insert 8 E R T Y Question 5 5 Points 5 Points What are the three primary financial statements? A A Assets, Liabilities. Owner's Equity B Revenue, Expenses, Net Profit/Loss C Cash Flow, Balance Sheet, P&L D Investing Operating and Financing Activities Question 6 5 Points What transactions are found on the Cash Flow Statement? A Assets, Notes Payable, Labor Cost B) Revenue, Expenses, Net Profit/Loss Assets, Liabilities, Owner's Equity , O Investing Operating and Financing Activities Question 7 5 Points in which type of business entity do general partners manage the business and bear liability for its debts, and limited partners invest In the business but have limited liability for its debts? A) C Corporation B Limited Partnership (LP.) ng The due date for this submission has passed. New ottempts will be marked as late SAMSUNG s 3 3 2 5 4 6 7 8 ) O Backspace Insert Print Home W E R T Y U } Dolene End F G H J KL TE Enter ollege.edu/ultra/courses/ 45359 1/outline/assessment/ 3131546_1/overview/attempt/_3864337 17courseld = 45359 1 What transactions are found on the income Statement? A Assets, Notes Payable, Labor Cost B Revenue, Expenses, Net Profit/Loss C Assets, Liabilities, Owner's Equity D Investing Operating and Financing Activities Question 9 Spoints 5 Points The balance sheet for the Hotel Crosby shows 51,590,421 in assets and $1,081,320 in liabilities. Calculate the owners' equity. A $2,671,741 B) ($2,671,741) C S 509,101 D (5 509,101) Question 10 5 Points When a journal entry is made to the left side of a T account that entry is called A Tadjustment entry B Ledger adjustment entry (C) Credit entry D Debit entry Mining a The due date for this submission has passed. New attempts will be marked as lote SAMSUNG Bachpace NTV % 5 Votive Daly 2 3 6 9 W E R T Y VU O Delave End Peos S D F G J K L Enter . What term is interchangeable with Cost? A) Expenses B) Net Profit C Revenue D Equity Question 15 5 points 5 Points What term is interchangeable with Sales? A) Gross Profit B Revenue C Asset D) Expenses Question 16 5 Points A device used to record increases or decreases in the assets, abilities or owners' equity portion of a business is called a (n) A) General ledger B) Bookkeeper C Account D) Journal ates remaining The due date for this submission has passed. New attempts will be marked as late SAMSUNG 7 & 3 5 6 8 9 Backspace trert LATV W E E R R. Y U O P } Delete End | S D F G H J K L Enter A device portion of a business is called a (n) General ledger B) Bookkeeper Account D Journal Question 17 5 Points The foundation of accurate financial reporting and analysis is A Managerial Accounting B Bookkeeping Summary Accounting Cost Analysis