AAMI ACCOUNTING ONE FINAL REVIEW (ACTUAL 2025) QUESTIONS AND 100% CORRECT ANSWERS

AAMI ACCOUNTING ONE FINAL REVIEW
(ACTUAL 2025) QUESTIONS AND 100%
CORRECT ANSWERS

The journal is a - <<Answers>>>book.


The ledger is a - <<Answers>>>book.


Trial Balance is a - <<Answers>>>Statement


Trial Balance is - <<Answers>>>informal


Accounting is - <<Answers>>>Language of business/ to
communicate financial information


accounting is base on - <<Answers>>>double entry


assets are - <<Answers>>>things of value that a busniess own
or property


labilities are - <<Answers>>>debits that a business owes


Assets list - <<Answers>>>Cash
Accounts receivable
Notes receivable

, AAMI ACCOUNTING ONE FINAL REVIEW
(ACTUAL 2025) QUESTIONS AND 100%
CORRECT ANSWERS
Building
Automotive equipment
office equipment
supplies
land


Liabilities list - <<Answers>>>Accounts payables
notes payables
loans payables
mortgage payable


owner's equity list - <<Answers>>>Capital
revenue


Expenses list - <<Answers>>>Salaries expense
utilities expense
insurance expense
rent expense
repair / maintenance expense


account receivable is - <<Answers>>>unwritten promise by
costomer to pay at later date