#1
Which of the following is considered an expense in a dental practice?
Dental chair
Salary of the dental assistant
Patient appointments
X-ray machine
#2
Which financial statement would show the expenses incurred by a dental practice over a specific period?
Balance Sheet
Income Statement
Cash Flow Statement
Statement of Owner's Equity
#3
Which of the following is an example of an operating expense for a dental practice?
Purchase of land
Interest expense
Wages for administrative staff
Loan repayment
#4
What is the primary purpose of recording expenses in accounting?
To decrease owner's equity
To calculate profit
To increase liabilities
To determine cash flow
#5
Which financial statement reports the financial performance of a dental practice over a specific period?
Balance Sheet
Income Statement
Cash Flow Statement
Statement of Owner's Equity
#6
What type of asset is dental equipment?
Intangible asset
Current asset
Fixed asset
Liquid asset
#7
Which accounting principle requires expenses to be recorded when incurred, not when paid?
Matching principle
Conservatism principle
Revenue recognition principle
Materiality principle
#8
What accounting principle requires assets to be recorded at their original cost?
Matching principle
Consistency principle
Historical cost principle
Materiality principle
#9
Which of the following would be classified as a non-current asset for a dental practice?
Cash
Accounts Receivable
Dental equipment
Supplies
#10
Which of the following statements about depreciation is true?
Depreciation decreases the value of an asset over time.
Depreciation increases the value of an asset over time.
Depreciation has no impact on the value of an asset.
Depreciation is only applicable to intangible assets.
#11
In double-entry bookkeeping, when a dental practice receives cash for services provided, which accounts are affected?
Accounts Receivable and Cash
Cash and Revenue
Cash and Accounts Payable
Revenue and Accounts Receivable
#12
If a dental practice purchases dental supplies on credit, which accounts are affected?
Inventory and Accounts Payable
Cash and Accounts Receivable
Supplies Expense and Accounts Payable
Accounts Receivable and Revenue
#13
Which accounting concept assumes that a business will continue to operate indefinitely?
Consistency
Going Concern
Materiality
Conservatism
#14
If a dental practice purchases new dental chairs for cash, how does this transaction affect the accounting equation?
Increases assets and decreases liabilities
Decreases assets and decreases liabilities
Increases assets and increases liabilities
Decreases assets and increases liabilities
#15
When a dental practice pays rent for the office space, which accounts are affected?
Cash and Rent Expense
Accounts Payable and Rent Expense
Cash and Accounts Receivable
Rent Expense and Prepaid Rent