Question Completion Status: 20 5 16 26 60 31 80 33 12 37 27 28 29 30 9 10 34 35 590 600 32 36 13 14 15 38 39 40 630 640 650 51 52 53 54 55 56 57 58 610 620 Moving to another question will save this response. Question 11 Which of the following transactions would lead to an accounts receivable? O A company pays for a utility in advance, O A company is paid in advance for a sale. O A company buys an item from another company, A company sells an item to a customer Moving to another question will save this response. 10 otv MacBook Pro 80 000 F2 F3 000 F4 F5 F7 FB maining Time: 26 minutes, 38 seconds. uestion Completion Status: 20 40 5 60 70 81 90 10 110 12 13 140 150 1 6 27 28 29 30 31 32 33 34 35 36 37 38 39 40 4 51 52 53 54 55 56 57 58 590 600 610 620 630 640 650 66 A Moving to another question will save this response. Question 12 Which of the following transactions would lead to an accounts payable? A company pays for a utility in advance. A company is paid in advance for a sale. A company buys an item from another company. A company sells an item to a customer. tv A MacBook Pro 80 000 F3 000 F4 *** F5 F6 F7 FR Question Completion Status: 3 40 5 10 12 13 10 26 51 25 27 7080 32 33 140 39 28 29 30 34 35 36 37 38 31 56 52 53 54 55 57 58 590 600 61 62 63 6406 A Moving to another question will save this response. Question 13 A trial balance O is another name for the income statement. O ignores whether an account has a normal debit or credit balance. can be used to prepare financial statements is out-of-balance when prepared correctly. A Moving to another question will save this respons. otv A MacBook Pro 80 F3 000 A Question Completion Status: L 21 30 46 5 66 31 70 32 27 28 29 30 33 26 51 90 10 116 12 13 140 150 34 35 36 37 38 39 40 590 600 610 620 630 640 650 52 53 54 55 56 57 58 A Moving to another question will save this response. Question 15 Which of the following statements about accrual basis accounting is incorrect? Accrual basis accounting records some transactions when cash is received or paid. Accrual basis accounting records some transactions at the end of the period. Accrual basis accounting records transactions only when cash is received or paid. Accrual basis accounting is required by GAAP. Moving to another question will save this response. otv A MacBook Pro un BE 20 30 27 28 40 29 5 31 30 55 32 57 10110 12 13 140 33 34 35 36 37 38 39 58 590 600 610 625 630 640 6 1 52 53 54 56 > Moving to another question will save this response. Question 18 A contra account will not be listed immediately after its related account. Obe potentially classified as a contra-assets or contra-liabilities. always has a normal debit balance. has a normal balance which is the opposite of its related account. Moving to another question will save this response. lo tv A MacBook Pro 20. 000 no assessment id=731788. 1&course la= 151251 1&contar Force Completion Once started, this test must be completed in one sitting. Do not leave the test before clicking Your answers are saved automatically. Remaining Time: 25 minutes, 35 seconds. Question Completion Status: 30 40 10 26 51 20 27 29 28 53 5 30 55 31 56 32 57 86 90 10 110 12 13 140 150 160 170 18 1 33 34 35 36 37 38 39 40 41 42 43 4 58 590 600 610 620 630 640 650 660 670 680 69 52 54 A Moving to another question will save this response. Question 19 With respect to Vehicles, its book value exactly reflects the market value of the equipment. is calculated by adding the amount of depreciation already recorded to the original cost of the vehicle. represents the cost of the instruction manual for the vehicle. is calculated by subtracting the Accumulated Depreciation account from the Vehicles account Moving to another question will save this response. tv le 11 MacBook Pro 80 F3 000 74 F5 F7 A & Remaining Time: 25 minutes, 23 seconds. * Question Completion Status: 10 26 20 30 40 27 28 29 52 53 54 5 60 70 30 31 32 55 56 57 8 33 90 10 1112 13 140 150 160 170 18 19 34 35 36 37 38 39 40 41 42 43 44 590 600 610 620 630 640 650 660 670 680 690 51 58 A Moving to another question will save this response. Question 20 Which of the following statements about adjusting entries is correct? An adjusting entry for deferred expenses includes a credit to an expense and a debit to an asset. An adjusting entry for deferred revenues includes a credit to a liability and a debit to revenues. An adjusting entry for accrued expenses includes a debit to an expense and a credit to an asset. An adjusting entry for accrued revenues includes a debit to an asset and a credit to revenues. Moving to another question will save this response tv MacBook Pro * 80 990 > 12 F 000 4 FS FA F7 18 FV A # 3 $ 4 % 5 & 7 Oo * 6 9 0 W E R T T Y U O