Accounting Exam 1 with answers graded A+ 2023 100% verified

____ transactions typically are recognized at the end of the period. - Internal ______ revenue arises when a business receives cash in one period, but does not provide all of the related goods or services until a later period. - Deferred _______ is an allocation of the cost of buildings, vehicles, and equipment to expense over time as they are used. - depreciation A _____ represents a payment of cash to the stockholders of a company. - dividend A debit represents the _____ side of the account. - left A journal entry should contain which of the following information? - -the date -description of the transaction -accounts and amounts credited -accounts and amounts debited A list of all account names used to record transactions of a company is referred to as the - chart of accounts A list of all accounts and their balances at a particular date showing that debits equal credits is referred to a(n) - trial balance A separate _____ is used to post transactions and provides a summary of the effects of all transactions for a particular item. - account Accounting transactions are classified as which of the following? - -external -internal