财务会计题库 Transaction Analysis.docVIP

Financial Accounting, 7e Harrison/Horngren Test Item File Chapter 2: Transaction Analysis 2.1-1 A journal entry is an event that has a financial impact on the business that can be reliably measured. Answer: False LO: 2-1 Diff: 2 EOC: S2-5 2.1-2 The trial balance is a NOT a formal accounting statement. Answer: True LO: 2-1 Diff: 1 EOC: S2-25 2.1-3 Accrued Liabilities is a liability account. Answer: True LO: 2-1 Diff: 1 EOC: E2-28 2.1-4 The retained earnings account represents the excess of net income over dividends retained in the business since its inception. Answer: True LO: 2-1