1.
Which of the following accounts would be credited when recording the payment of a supplier invoice?
2.
Which of the following accounts is a contra asset account?
3.
Which of the following types of accounts have a normal credit balance?
4.
Which of the following statements about a debit balance in a liability account is true?
5.
Which of the following accounts would be debited when recording the purchase of office supplies on account?
6.
Which of the following financial statements reports a company's profitability over a specific period of time?
7.
Which of the following financial ratios measures a company's ability to meet its short-term financial obligations?
8.
Which of the following inventory costing methods assumes that the first items purchased are the first items sold?
9.
Which of the following financial statements shows a company's assets, liabilities, and equity at a specific point in time?
10.
Which of the following statements is true regarding the accrual basis of accounting?
