Want to see correct answers?
Login or join for free!
  printable Worksheets
Looking for printable worksheets?
Check out our pre-made printable worksheets!
Share/Like This Page
Filter By Grade

You are browsing College questions. View questions in All Grades.

Grade 7 Grade 8 Grade 9 Grade 10 Grade 11 Grade 12 College Continuing Education

Browse Questions

College Accounting Questions

You can create printable tests and worksheets from these College Accounting questions! Select one or more questions using the checkboxes above each question. Then click the add selected questions to a test button before moving to another page.

Previous Page 3 of 3 Next
College Accounting
Which of the following would not be found on the income statement?
  1. Cost of goods sold
  2. Net income
  3. Retained earnings
  4. Wage expense
College Accounting
The money value of a property or of an interest in a property in excess of claims or liens against it.           Equities           
College Accounting
A summary of income and expenses for a given period.                                  Statement of income and expense                                  
College Accounting
Smith's Shoe Store recorded $ 25,600 in net income during the period ended December 31, 2010. This is the first year of the company's existence, and retained earnings at the end of the year totaled $ 18,400, and current assets totaling $28,400. How much, if any, of the profits did Smith's distribute to its owners during this period?
  1. $ 7,200
  2. $ 2,800
  3. $ 18,400
  4. $10,000
College Accounting
Reynolds and Sons Jewelers recorded $ 175,600 in net sales for the year ended December 31, 2010. During that same year, Reynolds recorded $ 43,900 in net income. Cumulative retained earnings at the end of the year totaled $ 54,200, and $ 12,600 of dividends were declared for the period. Calculate Reynolds' profit margin for the period.
  1. 23%
  2. 25%
  3. 31%
  4. 56%
College Accounting
A summary of accounts paid out.                        Disbursements journal                        
College Accounting
A request for payment.            Statement            
College Accounting
The two major components of Owners' Equity are:
  1. Capital Stock and Dividends
  2. Long-term Liabilities and Net Income
  3. Dividends and Retained Earnings
  4. Capital Stock and Retained Earnings
College Accounting
Which of the following is true about the date format of financial statements?
  1. the income statement represents a snapshot of a business's position
  2. both the balance sheet and the income statement represent a period of time
  3. the statement of cash flows the balance sheet record a specific date
  4. the balance sheet is a snapshot of a business's position, so a specific day is used
College Accounting
The total ending balances of patient ledgers equal total of accounts receivable control.             In Balance             
College Accounting
Which of the following best describes the effect of the accrual of salaries?
  1. Liabilities increase and owners' equity decreases
  2. Owners equity increases and assets increase
  3. Assets increase and assets decrease
  4. Assets decrease and Liabilities decrease
College Accounting
An itemized list of objects in a package.               Packing Slip               
College Accounting
In 2007, John and Beth invested $ 100,000 each to start Smart Start Groceries. In 2009, they purchased land and hired a contractor for $ 26,000 in order to build a processing plant valued at $ 120,000. The acquisition of the plant is an example of a(n):
  1. Financing expense
  2. Operating activity
  3. Liability accrual
  4. Investing activity
College Accounting
Analyze the effect of advance deposits on the accounting equation before a service is delivered
  1. Owners' equity increases and assets increase
  2. Assets decrease and assets increase
  3. Assets increase and liabilities increase
  4. No effect
College Accounting
Considering the figures in the previous question, what expense adjustment should be recorded on August 1?
  1. $ 4,400
  2. $ 2,200
  3. $ 1,100
  4. No adjustment is necessary
College Accounting
Consider the percentage found in the previous question. Industry averages indicate the companies, on average, make $ .30 in net income for every dollar of sales. Analyze Reynolds and Sons compared to industry average.
  1. More liquid than the industry average
  2. Less profitable but more liquid than the industry average
  3. More profitable and more liquid than the industry average
  4. Less profitable than the industry average
College Accounting
Which of the following is an example of a financing activity?
  1. Acquiring a new plant for production
  2. Payment of dividends
  3. Cash payment for advertising
  4. The purchase of stocks in another company
College Accounting
Based on the figure found in question 5, consider that the industry average is 2.04 to 1. This indicates that Dixon is:
  1. More liquid than the industry average
  2. Less profitable than the industry average
  3. Less liquid than the industry average
  4. More liquid, but less profitable than the industry average
College Accounting
In excel what function will combine the text of two separate cells?               Concatenate              
College Accounting
Your employees clock in and out each day via an electronic timeclock. An employee comes to you angry that the tiemclock is running 10 minutes faster than his watch. What could your response be?
Previous Page 3 of 3 Next