【正文】 the chart of accounts, that is, assets first, then liabilities, then owner39。TRUE53.FALSE54.FALSE55.FALSE56.FALSE57.s – Who (the name of the organization), What (the name of the statement), and Where (the organization39。FALSE58.TRUE59.TRUE60.A.Preparing financial statements and other reports.C.Presentation of financial information to decisionmakers.E.AICPA FN: Decision MakingDifficulty: EasyLearning Objective: C1A sales invoice:Is a type of source document.B.Is used by buyers to record purchases.D.All of these.62.AICPA FN: Decision MakingDifficulty: MediumLearning Objective: C2Source documents:Include the ledger.B.Must be in electronic form.D.Include the chart of accounts.64.A.Can include sales tickets.C.Can be in electronic form.E.AICPA FN: Decision MakingDifficulty: MediumLearning Objective: C2A record of the increases and decreases in a specific asset, liability, equity, revenue, or expense is a(n):Journal.B.Trial balance.D.Chart of accounts.67.A.The owner39。The owner39。An expense account.E.AICPA FN: Decision MakingDifficulty: MediumLearning Objective: C3Unearned revenues are:Revenues that have been earned and received in cash.B.Liabilities created when a customer pays in advance for products or services before the revenue is earned.D.Increases to owners39。AICPA FN: Decision MakingDifficulty: MediumLearning Objective: C3Prepaid expenses are:Payments made for products and services that do not ever expire.B.Decreases in equity.D.Promises of payments by customers.71.A.Prepaid expense.C.Note payable.E.AICPA FN: Decision MakingDifficulty: MediumLearning Objective: C3A collection of all accounts and their balances used by a business is called a:Journal.B.General Journal.D.Ledger.73.A.A journal in which transactions are first recorded.C.A list of all accounts with their debit balances at a point in time.E.AICPA FN: Decision MakingDifficulty: MediumLearning Objective: C4A list of all accounts and the identification number assigned to each account used by a pany is called a:Source document.B.Trial balance.D.General Journal.75.s chart of accounts:Is the same for all panies.B.Depends on the source documents used in the accounting process.D.Typically begins with ine statement accounts.76.A.The righthand side of a Taccount.C.The lefthand side of a Taccount.E.AACSB: AnalyticAICPA FN: Decision MakingDifficulty: EasyLearning Objective: C5The right side of a Taccount is a(n):Debit.B.Credit.D.Account balance.79.A.A decrease in an asset account.C.An increase in a revenue account.E.AACSB: AnalyticAICPA FN: Decision MakingDifficulty: MediumLearning Objective: C5A simple account form widely used in accounting as a tool to understand how debits and credits affect an account balance is called a:Withdrawals account.B.Drawing account.D.Balance column sheet.82.AACSB: AnalyticAICPA FN: Decision MakingDifficulty: MediumLearning Objective: C5Of the following accounts, the one that normally has a credit balance is:Cash.B.Sales Salaries Payable.D.Sales Salaries Expense.84.A.A decrease in an expense account.C.An increase in the balance of an owner39。An increase in the balance of the owner39。AACSB: AnalyticAICPA FN: Decision MakingDifficulty: MediumLearning Objective: C5A credit entry:Increases asset and expense accounts, and decreases liability, owner39。Is always a decrease in an account.C.s capital, and revenue accounts.D.Is always an increase in an account.86.A.That records the effects of transactions and other events in at least two accounts with equal debits and credits.C.That may only be used if Taccounts are used.E.AACSB: AnalyticAICPA FN: Decision MakingDifficulty: HardLearning Objective: C5AACSB: AnalyticAICPA FN: Decision MakingDifficulty: EasyLearning Objective: A1Management Services, Inc. provides services to clients. On May 1, a client prepaid Management Services $60,000 for 6months services in advance. Management Services39。A.Credit to Management Fees Earned for $60,000.C.Credit to Unearned Management Fees for $60,000.E.AACSB: AnalyticAICPA FN: Decision MakingDifficulty: EasyLearning Objective: A1Wisconsin Rentals purchased office supplies on credit. The general journal entry made by Wisconsin Rentals will include a:Debit to Accounts Payable.B.Credit to Cash.D.Credit to Wisconsin Rentals, Capital.90.A.Recorded as a debit to a prepaid expense account.C.Recorded as a credit to a prepaid expense account.E.AACSB: AnalyticAICPA FN: Decision MakingDifficulty: MediumLearning Objective: A1Robert Haddon contributed $70,000 in cash and land worth $130,000 to open a new business, RH Consulting. Which of the following general journal entries will RH Consulting make to record this transaction?B.D.92.AACSB: AnalyticAICPA FN: Decision MakingDifficulty: HardLearning Objective: A1On September 30, the Cash account of Value Company had a normal balance of $5,000. During September, the account was debited for a total of $12,200 and credited for a total of $11,500. What was the balance in the Cash account at the beginning of September?A $0 balance.B.A $4,300 credit balance.D.A $5,700 credit balance.Beg. Bal. + $12,200 $11,500 = $5,000Beg. Bal. $4,300 debit94.A.$47,000.C.$57,000.E.AACSB: AnalyticAICPA FN: Decision MakingDifficulty: HardLearning Objective: A1During the month of February, Hoffer Company had cash receipts of $7,500 and cash disbursements of $8,600. The February 28 cash balance was $1,800. What was t