GROUP 4 FABM 2 QUIZ
Quiz by Joel Kenneth Tan Parreño
Feel free to use or edit a copy
includes Teacher and Student dashboards
Measure skillsfrom any curriculum
Tag the questions with any skills you have. Your dashboard will track each student's mastery of each skill.
- edit the questions
- save a copy for later
- start a class game
- automatically assign follow-up activities based on students’ scores
- assign as homework
- share a link with colleagues
- print as a bubble sheet
- Q 1/5Score 0What is the purpose of trial balance29To record daily transactionsTo identify errors in the accounting recordsTo prepare financial statementsTo close the accounting books
- Q1What is the purpose of trial balanceTo record daily transactionsTo identify errors in the accounting recordsTo prepare financial statementsTo close the accounting books30s
- Q2Which side of the ledger is used to record an increase in owner's equity?None of the aboveDebitBoth credit and debitCredit30s
- Q3
Which of the following errors would discover in the trial balance
A transaction that's not been journalized
incorrect accounts used when journalizing a transaction
An error transferring a debit balance to the credit column.
A journal entry that's not been posted
30s - Q4
what is the purpose of adjusting entries in the context of a trial balance
to correct errors in the trial balance
adjusting entries are not related to the trial balance
to increase the trial balance total
to update account balances to reflect accrual accounting principles
30s - Q5
how would posting a journal entry to the wrong accounts impact the trial balance
total credits and total debits would be properly istated and individual account balances would be correct
it woudn't impact the trial balance
total credits and total debits would be properly stated, but individual account balances would be incorrect
total credits would be understated and total debits would be understated
30s
