Скачать или смотреть Accounting Quiz 2

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Here are five quick questions that every accountant should know the answer to...

1. The Accounting Equation is: Assets = Liabilities + Equity. True or False?
2. In Double-Entry Accounting, every transaction affects at least two accounts. True or False?
3. A Journal Entry is a summary of a business's revenues and expenses over a period of time. True or False?
4. In Accrual Accounting, Expenses should always be recorded when Cash is paid out. True or False?
5. The Matching Principle says that revenue and all related expenses should be recorded in the same accounting period. True or False?

Did you get 5 out of 5? Let us know in the comments.

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