INTUIT BOOKKEEPING TEST

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INTUIT BOOKKEEPING TEST

Questions & Answers

• A listing of the account numbers and titles but without account balances is

the of accounts.ANS Chart

• Prior to approving a vendor's invoice for payment, the invoice, receiving

ticket, and order should be compared.ANS Purchases

• The report that sorts a company's accounts receivables into current, 1-30

days past due, 31-60 days past due, etc. is referred to as the of accounts receivable.ANS Aging

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• The amount of insurance premiums that have not yet expired is reported as

an .ANS Assets

• Adjusting entries are recorded in the journal.

ANS General

• The bank statement has an ending balance of $1,700. There are $600 of

deposits in transit and $2,100 of checks outstanding. The adjusted balance per the bank state- ment is $ .

ANS $200.00

• Which of the following will increase the balance in a liability account?

ANS Credit

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