11 a chart of accounts is a a source document b another name for a trial balance c a 4300896

11) A chart of accounts is:

A) a source document.

B) another name for a trial balance.

C) a list of all of the accounts of an organization and their related account numbers.

D) prepared as the last step in analyzing transactions.

12) Which of the following is a revenue account?

A) accounts receivable

B) accumulated amortization

C) unearned revenue

D) sales

13) Which of the following most completely describes businesses that use a chart of accounts?

A) service but not merchandising or manufacturing businesses

B) merchandising but not service or manufacturing businesses

C) manufacturing but not service or merchandising businesses

D) Service, merchandising, and manufacturing businesses all use a chart of accounts.

14) The year end balance in the capital account is determined by:

A) the change in cash from the beginning to the end of the year.

B) the beginning capital balance, investments, net income or loss, and withdrawals.

C) only investments and withdrawals.

D) the change in total assets from the beginning to the end of the year.

Match the following.

 

A) account

B) ledger

C) journal

D) chart of accounts

15) The basic summary device of accounting

16) The book of accounts

17) The chronological record of an entity's transactions

18) A list of all an entity's accounts and their account numbers