Quiz Ch 02 -T/F Journal Entries: The Rule of Debit-Credit Equality
Financial Accounting
Thomas, Tietz, and Harrison
12th Edition
The sum of debits must be equal to the sum of credits in every journal entry.
The sum of debits must be equal to the sum of credits in every journal entry.
Asks what closing process involves
Asks for the insurance expense that would appear on the income statement.
Asks for an adjusting entry that would decreases assets.
Asks which would increase liabilities
Asks which of a list is an accrued liability.