Bookkeeping Exam Test Guide with
Complete Solutions
Source Document - ANSWER-Proof of a certain transaction
Examples of bookkeeping forms - ANSWER-General ledger, general journal, bank
reconciliation
If an asset and/or expense account is debited it is - ANSWER-Increased
If a revenue account is increased, it is - ANSWER-Credited
Debits and Credits should balance in a general journal entry - ANSWER-Yes
The Chart of Accounts is comprised of how many account groups - ANSWER-6
The Chart of Accounts is used to - ANSWER-Properly classify and record transactions
An Asset is - ANSWER-Refers to items that are owned
Expenses are those items that are - ANSWER-Costs associated with operating a
business
To journalize business transactions, refers to - ANSWER-Recording them in the general
journal
The two main methods of bookkeeping and accounting are 1) the cash method, and 2)
the __________
method. - ANSWER-accrual
entry bookkeeping means that every transaction will affect two or more accounts. -
ANSWER-Double
A __________ amount will appear on the left side of a T-account. - ANSWER-debit
A listing of the balances in the accounts in order to determine whether debits are equal
to credits is a __________
balance. - ANSWER-trial
The listing of accounts that are available for posting transactions is the __________
of accounts. - ANSWER-chart
When a check is written, a cash account should be __________. - ANSWER-credited
Complete Solutions
Source Document - ANSWER-Proof of a certain transaction
Examples of bookkeeping forms - ANSWER-General ledger, general journal, bank
reconciliation
If an asset and/or expense account is debited it is - ANSWER-Increased
If a revenue account is increased, it is - ANSWER-Credited
Debits and Credits should balance in a general journal entry - ANSWER-Yes
The Chart of Accounts is comprised of how many account groups - ANSWER-6
The Chart of Accounts is used to - ANSWER-Properly classify and record transactions
An Asset is - ANSWER-Refers to items that are owned
Expenses are those items that are - ANSWER-Costs associated with operating a
business
To journalize business transactions, refers to - ANSWER-Recording them in the general
journal
The two main methods of bookkeeping and accounting are 1) the cash method, and 2)
the __________
method. - ANSWER-accrual
entry bookkeeping means that every transaction will affect two or more accounts. -
ANSWER-Double
A __________ amount will appear on the left side of a T-account. - ANSWER-debit
A listing of the balances in the accounts in order to determine whether debits are equal
to credits is a __________
balance. - ANSWER-trial
The listing of accounts that are available for posting transactions is the __________
of accounts. - ANSWER-chart
When a check is written, a cash account should be __________. - ANSWER-credited
