Quiz Ch 02 – T/F Understanding Revenue Accounts
Financial Accounting
Thomas, Tietz, and Harrison
12th Edition
An instance of a revenue account is the cost of goods sold.
An instance of a revenue account is the cost of goods sold.
What is the final step in the process of journalizing?
What is the initial step in recording a transaction in the journal?
In what order are entries typically listed in the journal?
When do most companies prepare financial statements?
What is the range of initial maturities for Treasury notes?
If a debit is mistakenly treated as a credit, what number will the out-of-balance amount on the trial balance be divisible by?
Which type of error can be identified by a trial balance?
Which step is unlikely to help find the error if the trial balance does not balance?
Which statement regarding a trial balance is correct?