Accounting Cycle

Accounting Cycle

Assessment

Assessment

Created by

P. Harris

Education

10th Grade

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11 questions

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1.

Multiple Choice

30 sec

1 pt

The accounting cycle begins by recording _____________ from source documents in the form of journal entries.

Business transactions

Financial information

Corporate minutes

Business contracts

2.

Multiple Select

30 sec

1 pt

The accounting cycle begins by recording _____________ in the form of journal entries.

A. business transaction

B. financial information

C. corporate minutes

D. business contracts

3.

Multiple Select

30 sec

1 pt

After a business transaction has occurred, journal entries are recorded in the

ledger

journal

expense accounts

income accounts

4.

Multiple Select

30 sec

1 pt

Once journal entries are recorded, they can be posted to:

ledger

income statement

expenses account

5.

Multiple Choice

30 sec

1 pt

An invoice used as a source document for recording a sale on account.

source document

sales invoice

cheque

entry

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