Quiz 02.67 – Identifying Permanent Accounts
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
What is NOT included in permanent accounts?
What is NOT included in permanent accounts?
How are expenses treated when converting an income statement from a cash basis to an accrual basis?
What is a common mistake when converting an income statement from a cash basis to an accrual basis?
How is cash received for services treated when converting an income statement from a cash basis to an accrual basis?
Match the given phrases with their corresponding terminologies, prepayments, perpetual system, etc…
Match the given phrases with their corresponding terminologies, unadjusted trial balance, accrued receivables, etc…
In column A, identify whether a debit will increase or decrease the account balance. In column B, classify each account according to the provided scheme. If the account is a contra account, indicate the classification of the account to which it relates.
Match each phrase with its corresponding description, subsequent events, proxy statement, etc…
Match the given phrases with their corresponding descriptions, related-party transactions, deferred revenues, etc…
Match the given phrases with their corresponding descriptions, default risk, operational risk, etc…