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- Multiple ChoicePlease save your changes before editing any questions.
A fiscal period consists of ...
12 months
2 months
12 years
24 months
- Multiple ChoicePlease save your changes before editing any questions.
Two meanings of a credit are ...
money received
money owed or paid out
an entry made on the right side of an account
an entry made on the left side of an account
- Multiple ChoicePlease save your changes before editing any questions.
In accounting, an entry made on the left side of an account is ...
money received
money owed or paid out
credit
debit and credit
- Multiple ChoicePlease save your changes before editing any questions.
The bank's balance sheet lists ...
assets and liabilities
assets and profits
profits and liabilities
assets and credit
- Multiple ChoicePlease save your changes before editing any questions.
Two other words for long-term obligations are ...
debentures
bonds
expense
amortization
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At a bank, a balance sheet is usually called ...
statement of condition
promissory notes
commercial paper
premises
- Multiple ChoicePlease save your changes before editing any questions.
Listen, and the correct answer is ...
cash basis
accrual basis
amortization
promissory notes
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Listen, and the correct answer is ...
promissory notes
statement of condition
accrual basis
amortization
- Multiple ChoicePlease save your changes before editing any questions.
How often is a profit and loss statement issued?
once in a fiscal period
twice in a fiscal period
twelve times in a fiscal period
anytime in a fiscal period
- Multiple ChoicePlease save your changes before editing any questions.
Three of many things that bank accountants do are ...
enter credits and debits in journals and ledgers
list different items of assets and liabilities in a corporation
prepare the balance sheet that appears in the annual report
assign entries to the proper category
- Multiple ChoicePlease save your changes before editing any questions.
Two categories that are NOT mentioned are ...
notes
debentures
occupancy
loans
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The correct statement is ...
The bank can use both cash and accrual basis.
The bank only use a cash basis for its account.
The bank only use an accrual basis for its account.
The bank doesn't use both cash and accrual basis.
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The word which means "writing off certain expenses by dividing them into fixed payments over a period of time" is ...
amortization
debentures
occupancy
premises
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A kind of promissory notes to raise cash is ...
commercial paper
debentures
cash basis
equity
- Multiple ChoicePlease save your changes before editing any questions.
The correct pairs of synonyms are ...
debit - money received
profit and loss statement - statement of condition
amortization - debentures
bonds - certificate of debts