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Cash Flow Statements communicate which of the following?

A. Cash Flow Positive or Cash Flow Diminutive

B. Cash Flow Negative or Cash Flow Reductive

C. Cash Flow Positive or Cash Flow Generative

D. Cash Flow Generative or Cash Flow Negative

The accounting cycle is completed at the _______ of the accounting period.

A. beginning

B. mid-point

C. end

D. None of the Above

When performing a Post Closing Trial Balance, where do your Assets go?

A. Under Debits

B. Under Credits

C. They should equal zero

D. They are not on the post closing trial balance

Which of the following is part of the sequence to Closing Entries?

A. Close the revenue accounts to Inventory Summary

B. Close the expense accounts to Income Summary

C. Close the Inventory Account

D. All of the Above

Which of the following is NOT a reason for an adjusting entry?

A. Overpaying of a utility bill.

B. Forgetting to record a financial transaction.

C. Receiving payment for future purchase of goods.

D. All of the above are legitimate reasons for an adjusting entry.

The Trial Balance lists which of the following?

A. Accounts from the General Ledger

B. Sales from Income Statement

C. Expenses from Balance Sheet

D. None of the Above

Journal Entries are used for which of the following?

A. Cash Account

B. Inventory Account

C. Equipment Account

D. All of the Above

T-Accounts are charts for recording which of the following?

A. Balance Sheets

B. Profits

C. Fraud Prevention

D. Transactions

Credit is the term used by accountants to refer to accounts going _________.

A. up only

B. down only

C. negative

D. up or down

Customers Sales is another term for which of the following?

A. Expenses

B. Revenue

C. Assets

D. Liabilities

Which of the following is NOT a method of capitalizing a business?

A. Debt

B. Borrowed contributions

C. Equity

D. None of the Above (All are capitalizing methods)

Which of the following would be included under Assets?

A. Retained Earnings

B. Inventory

C. Wages Payable

D. Notes Payable

In the following sentence, identify the part of speech of the italicized word. Thousands of years ago, fish were caught in nets and traps

Which of the following is a category of Shareholder's Equity?

A. Shareholder's Capital

B. Accounts Receivable

C. Equipment

Debt may be owed to which of the following?

A. Investors

B. Banks

C. Suppliers

D. All of the Above

This picture shows the flow of oxygen-poor blood into the right atrium then right ventricle and to the lungs. Which vessels are used to carry blood to the lungs?

What should you consider when conducting an interview?

A. how you will record the information your interviewee will give you

B. how much time will it take so it doesn't take you too long - you need to get your writing done as well

C. how you will manage your body language and tone so the interviewee will hurry up and talk fast