Lackawanna ACC105 2021 September Module 2 Quiz Latest

ACC105 Principles of Accounting 1

Module 2 Quiz  

Credit

 Debit

Expenses

 Ledger

 Liabilities

 Stockholders' Equity

Stockholders’ right to the assets of the business.

Revenues

 T Account

Common stock

 An account representing the ownership rights of investors in a corporation

Retained Earnings

Dividends

Question 2Double-Entry Accounting System

Journal

Journal Entry

The form of recording a transaction in a journal.

Journalizing

Normal Balance of an Account

Rules of debit and credit

 Two-Column Journal

Question 3Accounts Receivable

Four-Column Account

 Posting

Unearned Revenue

 Question 4Correcting Journal Entry

 Horizontal Analysis

Slide

Transposition

Trial Balance

 Unadjusted Trial Balance

 Quiz