Question: Hello, Can you please help me to answer these questions ? thank you in advance Number Questions 1 Salary and wages can only be charged

Hello, Can you please help me to answer these questions ? thank you in advance

Number Questions
1 Salary and wages can only be charged to an expense account ( True or false ?)
2 Invoice should be coded for distribution in the general ledger by referring to the
3 Prepaid insurance for future periods should be classified as
4 When an item in accounts payable is paid, the following entry is made
5 A payment on account to vendor (increase or decrease account payable )?
6 The accounting method which records transactions with debit and an equal credit is called?
7 All journals are posted to the
8 Capital expenditure includes / expenditure for fixed assets
9 Which of the following statements concerning the standard general ledger is true or false
9A The general ledger contains the account for asset liabilities and equity
9B A general ledger and balance sheet are the same
9C At any point in time, the sum of debit and the sum of the credit in a general ledger will
9D A statement of financial position cannot be prepared from the General ledger
9E A general ledger does not contain all the accounts in the accounting system
9F A general ledger is the basic infrastructure of an accounting system
9G The cash flow statement is not prepared from information in the general ledger
10 Why does a general ledger contain a record or summary of every transaction in a business?
11 In a general ledger liabilities are generally incurred and recorded as a result of
11A In a general ledger, liabilities are generally incurred and recorded owed by the customer to a company
12 In a general ledger assets are generally incurred and recorded as a result of
13 Is paying an outstanding insurance policy is asset or liability?
14 Is paying an outstanding invoice is asset or liabilities?
15 Is selling goods to its customer an asset or a liability?
16 is paying off outstanding debt an asset?
17 Equipment repair should be classified as
18 Cost of inventory should be classified as
19 Utility bills should be classified as
20 Is investment an asset or a liability?
20A is a note payable an asset?
20B is a note receivable a current asset?
20C Is inventory an asset?
21 A prepaid expense account is? an expense?
22 The contra account for account receivable is the allowance for
23 A credit sale of merchandise for $112.20 reduce or increase account receivable?
23A Does the return of merchandise by a customer reduce or increase account receivable?
24 a payment on account by customer reduce or increase account receivable?
24A a payment on account by customer increase sale?
25 a customer account is deemed to be uncollectible
26 What effect has the credit sale to a customer on the account receivable?
26A what effect has the cash sale to a customer on the account receivable?
27 when interest charged to customers who have past due increase or decrease account receivable
27A interest increase or decrease account receivable
28 a trial balance is used to :( see the general ledger? )
29 what is the cross reference of the debit for this account
30 the accounting method used to record revenues at the time income is received by the business and expenses at the time funds are spent is called
31 A payment on account to a vendor (increase or decrease account payable)

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