student Qiz - Lecture 2 第二讲：作业.docVIP

Name_________________________ Date_________________ Class_____ __________ lecture 2 10-Minute Quiz Circle the letter of the best response. 1. The Chart of Accounts is: A. a listing of all open accounts and their balances. B. expected to be in balance at all times. C. a listing of all accounts used to record the business transactions. D. not necessary to record transactions. 2. Which of the following accounts is increased with a debit? A. Equipment B. Accounts Payable C. Retained Earnings D. Service Revenue 3. Which of the following accounts is increased with a credit? A. Dividends B. Supplies Expense C. Accounts Receivable D. Service Revenue 4. The XYZ Company purchased supplies for $1,000 on account. The entry to record this transaction is: A. Dr: Cash 1,000 Cr: Supplies 1,000 B. Dr: Supplies 1,000 Cr: Accounts Payable 1,000 C. Dr: Supplies 1,000 Cr: Accounts Receivable 1,000 D. Dr: Supplies 1,000 Cr: Cash 1,000 5. An account is: A. a record of all changes in an asset, liability, or stockholders’ equity during a period. B. an event that has an economic impact on the business. C. always expected to have a debit balance. D. none of the above 6. The double-entry accounting process: A. requires that every transaction affect at least two accounts. B. mandates that the dollar sum of the debits equal that of the credits for each transaction. C. neither A or B D. both A and B 7. When a company receives an electric bill, but does not pay it immediately, it should: A. credit Accounts Payable. B. make no entry. C. debit Accounts Payable. D. credit Utilities Expense. 8. Revenue: A. is the increase in assets as a result of providing a good or service. B. is the same as cash. C. has the same normal balance as dividends. D. is the increase in stockholders’ equity as a result of providing a good or service. 9. Each of the following is an expense except: A. Cost of Goods Sold. B. Dividends.