Smartbook quiz questions and answers 100% verified

Smartbook quiz questions and answers 100% verified

1. Which items appear on a balance sheet? Liabilities,
stockholder's
equity, Assets

2. Business activities that affect the basic Transactions
accounting equation and are recorded in the
accounting system are called

3. The Mortgage Payable account is increased
right
with an entry on the side of the T-account.

4. Which financial statement would you find supplies on? Balance
sheet

5. Which financial statement would you find supplies ex- Income
statement
pense on?

6. Which financial statement would you find cash paid for statement of
cash flows
supplies

7. What is the order of financial statements? 1. Income Statement
2. Statement of
Retained Earnings
3. Balance Sheet
4. Statement of Cash
Flows

8. what is the other name for balance sheet statement of financial
po-
sition

9. The Retained Earnings account is increased right
with an entry on the side of the equation
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15

, Smartbook quiz questions and answers 100% verified

10. A classified balance sheet shows subtotals for
cur- rent assets and
current li- abilities




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15