Ch1

Question 10: You can edit a worksheet in Backstage view.

Answer:

A.

True

B.

False

Question 9: Assets represent amounts owed to entities outside of a business.

Answer:

A.

True

B.

False

Question 7: A credit indicates an increase for the _____ account type.

Answer:

A.

Asset

B.

Capital

C.

Withdrawal

D.

Expense

Question 5: When you copy or cut an item, it is placed on the Ribbon so you can subsequently paste it elsewhere.

Answer:

A.

True

B.

False

Question 4: Which of these cannot be done in Backstage view?

Answer:

A.

Altering the print options

B.

Viewing a preview of the printout

C.

Navigating through the previewed worksheet pages

D.	Editing the worksheet

Question 3: Which of the these is not a standard component of a journal entry?

Answer:

A.

Debited account

B.

Credited amount

C.

Accounting equation impact

D.	Explanation