See attached document, it contains a 30 question multiple choice quiz. Please select the correct answers.

Question 1 A An asset account is A. notes payable B. Unearned revenue C. Cash D. Common stock Question 2 Which one of the following represents the expanded basic accounting equation? A. Assets = Revenues + Expenses - Liabilities. B. Assets + Dividends + Expenses = Liabilities + Common Stock + Retained Earnings + Revenues. C. Assets - Liabilities - Dividends = Common Stock + Retained Earnings + Revenues - Expenses. D. Assets = Liabilities + Common Stock + Retained Earnings + Dividends - Revenues - Expenses. Question 3 A debit is not the normal balance for which account listed below? A. Dividends B. Cash C. Accounts Receivable D. Service Revenue Question 4 An accountant has debited an asset account for $1,200 and credited a liability account for $500. What can be done to complete the recording of the transaction? A. Credit a different asset account for $700. B. Nothing further must be done. C. Debit another asset account for $700. D. Debit a Stockholders' equity account for $700. Question 5 Which of the following is an external user of the financial statements? A. company president B. investor C. manager of a department D. supervisor Question 6 For the basic accounting equation to stay in balance, each transaction recorded must A. always affect exactly two accounts. B. affect two or less accounts. C. affect two or more accounts. D. affect the same number of asset and liability accounts. Question 7 An awareness of the normal balances of accounts would help you spot Which of the following as an error in recording? A. A credit balance in a liabilities account B. A credit balance in a revenue account C. A debit balance in the dividends account D. A credit balance in an expense account Question 8 The Dividends account A. must show transactions every accounting period. B. is found in retained earnings C. is not a proper subdivision of retained earnings. D. appears on the income statement along with the expenses of the business. Question 9 Chik Chik Company showed the following balances at the end of its first year: Cash $3,000 Prepaid insurance 4,700 Accounts receivable 3,500 Accounts payable 2,800 Notes payable 4,200 Common stock 1,400 Dividends 700 Revenues 22,000 Expenses 17,500 What did Chik Chik Company show as total credits on its trial balance? A. $25,700 B. $35,100 C. $30,400 D. $31,100 Question 10 At December 1, 2014, Cursive Company's accounts receivable balance was $1,200. During December, Cursive had credit revenues of $4,800 and collected accounts receivable of $4,000. At December 31, 2014, the accounts receivable balance is A. $3000 B. $2,000 C. $400 D. $800 Question 11 A liability account is A. unearned revenue B. cash C. equipment D. retained earnings Question 12 A stockholders' equity account is A. retained earnings B. cash C. land D. mortgage payable Question 13 The entire group of accounts maintained by a company is called the A. chart of accounts. B. general ledger. C. general journal. D. trial balance. Question 14 The usual order of accounts in the general ledger is A. assets, liabilities, common stock, retained earnings, dividends, revenues, and expenses. B. liabilities, assets, common stock, retained earnings, revenues, expenses, and dividends. C. common stock, retained earnings, assets, liabilities, dividends, expenses, and revenues. D. assets, liabilities, dividends, common stock, retained earnings, expenses, and revenues. Question 15 The first step in preparing the financial statements is to prepare the A. retained earnings statement B. balance sheet C. Cash flow D. income statement Question 16 Which of the following are in accordance with generally accepted accounting principles? A Neither accrual basis nor cash basis accounting B Accrual basis accounting C Cash basis accounting D Both accrual basis and cash basis accounting Question 17 Crue Company had the following transactions during 2013: Sales of $4,500 on account Collected $2,000 for services to be performed in 2014 Paid $1,625 cash in salaries Purchased airline tickets for $250 in December for a trip to take place in 2014 What is Crue's 2013 net income using accrual accounting? A $4,625. B $4,875. C $2,625. D $2,875. Question 18 Adjusting entries are required A when revenues are recorded in the period in which they are earned. B because some costs expire with the passage of time and have not yet been journalized. C when the company's profits are below the budget. D when expenses are recorded in the period in which they are incurred. Question 19 An adjusting entry A affects two income statement accounts. B affects two balance sheet accounts. C affects a balance sheet account and an income statement account. D is always a compound entry. Question 20 Adjusting entries are A usually required before financial statements are prepared. B made whenever management desires to change an account balance. C made to balance sheet accounts only. D not necessary if the accounting system is operating properly. Question 21 Expenses incurred but not yet paid or recorded are called A accrued expenses. B unearned expenses. C prepaid expenses. D interim expenses. Question 22 A current liability is A accounts receivable B equipment C accounts payable D common stock Question 23 Accrued revenues are A earned and recorded as liabilities before they are received. B earned but not yet received or recorded. C received and recorded as liabilities before they are earned. D earned and already received and recorded. Question 24 Unearned revenues are A received and recorded as liabilities before they are earned. B earned and recorded as liabilities before they are received. C earned but not yet received or recorded. D earned and already received and recorded. Question 25 Post-closing trial balance includes A retained earnings B dividends C revenues D expenses Question 26 The Asset section of the balance sheet includes A revenues and expenses. B Land buildings and equipment C unearned revenue D Common stock Question 27 Which of the following would not result in unearned revenue? A Rent collected in advance from tenants B Services performed on account C Sale of two-year magazine subscriptions D Sale of season tickets to football games Question 28 An adjusting entry involves A Unearned Service Revenue and Cash. B Unearned Service Revenue and Service Revenue. C Cash and Prepaid Expense. D Unearned Service Revenue and cash. Question 29 At March 1, 2013, Minutemen Corp. had supplies on hand of $500. During the month, Minutemen purchased supplies of $1,200 and used supplies of $1,400. The March 31 adjusting journal entry should include a: A increase supplies expense account for $1,400. B decrease to the supplies expense account for $500. C increase to the supplies expense account for $1,200. D decrease to the supplies expense account for $1,200. Question 30 Which of the following depicts the proper sequence of steps in the accounting cycle? A Journalize the transactions, analyze business transactions, prepare a trial balance B Prepare a trial balance, post to ledger accounts, post adjusting entries C Prepare a trial balance, prepare financial statements, prepare adjusting entries D Prepare a trial balance, prepare adjusting entries, prepare financial statements