Real (permanent) accounts are revenue, expense, and dividend accounts . Adjusting entries for prepayments record the portion of the prepayment tha . Financial statements are the principal means through which a company co ltiple Choice . Debit always means incurred or the revenue recognized in the current accounting period information to those outside it a. the right side of an account b. an increase c. a decrease None of these answer choices are correct Which of the following is a nominal (temporary) account? a. Unearned Service Revenue b. Salaries and Wages Expense c. Inventory d. Retained Eamings A trial balance may prove that debits and credits are equal, but a. an amount could be entered in the wrong account. b. a transaction could have been entered twice. c. a transaction could have been omitted d. All of these answer choices are correct 5. . Which of the following is an example of an accrued expense? Office supplies purchased at the beginning of the year and debi b. Property taxes incurred during the year, to be paid in the first q c. Depreciation expense a. d. Rent recognized during the period, to be received at the end of 7. Which of the following A-D below presents the correct order of ste 1. Adjusted trial balance 2. Adjusting Entry 3. Closing Entries 4. Financial Statements 5. Journal entry 6. Post-Closing trial balance 7. Posting to ledger A. 1,2,3,4,5,6,7, B. 2,4,7,1,6,5,3 5,2,4,3,1,7.6 D) 5,7.2,1.4,3,6 Real (permanent) accounts are revenue, expense, and dividend accounts . Adjusting entries for prepayments record the portion of the prepayment tha . Financial statements are the principal means through which a company co ltiple Choice . Debit always means incurred or the revenue recognized in the current accounting period information to those outside it a. the right side of an account b. an increase c. a decrease None of these answer choices are correct Which of the following is a nominal (temporary) account? a. Unearned Service Revenue b. Salaries and Wages Expense c. Inventory d. Retained Eamings A trial balance may prove that debits and credits are equal, but a. an amount could be entered in the wrong account. b. a transaction could have been entered twice. c. a transaction could have been omitted d. All of these answer choices are correct 5. . Which of the following is an example of an accrued expense? Office supplies purchased at the beginning of the year and debi b. Property taxes incurred during the year, to be paid in the first q c. Depreciation expense a. d. Rent recognized during the period, to be received at the end of 7. Which of the following A-D below presents the correct order of ste 1. Adjusted trial balance 2. Adjusting Entry 3. Closing Entries 4. Financial Statements 5. Journal entry 6. Post-Closing trial balance 7. Posting to ledger A. 1,2,3,4,5,6,7, B. 2,4,7,1,6,5,3 5,2,4,3,1,7.6 D) 5,7.2,1.4,3,6
