#1
Which of the following is an example of an accounting source document?
#2
Which of the following documents is used to record the sale of goods or services to a customer?
#3
Which document is used to record the purchase of inventory from a supplier?
#4
Which document is used to record a return of merchandise to a supplier for a refund?
#5
What is the purpose of a general ledger?
#6
Which document is used to record the payment of wages to employees?
#7
Which document is used to record the receipt of cash from a customer?
#8
What principle requires that an organization's financial statements be prepared assuming that the business will continue operating indefinitely?
#9
Which accounting principle states that assets should be recorded at their original cost?
#10
According to the accrual basis of accounting, when are revenues recognized?
#11
Which accounting principle dictates that expenses should be recognized in the period in which they are incurred, regardless of when the cash payment occurs?
#12
Which accounting principle requires that financial statements should be based on evidence that can be verified?
#13
Which accounting principle states that an entity should use the same accounting methods and procedures from period to period?
#14
Which of the following is an example of an internal accounting document?
#15
Under which accounting principle should expenses be recognized in the same period as the revenue they help to generate?
#16
Under the principle of conservatism, which direction are estimates biased?
#17
According to the accounting equation, what is the formula for calculating owner's equity?
#18
Which accounting principle requires that expenses should be recognized in the period in which they contribute to revenue?
#19
What does the accounting principle of materiality emphasize?
#20