FBLA ACCOUNTING 2 EXAM GRADED A+
Correct
Incorrect
1 of 59
Definition
An individual who is licensed by a state to practice public
accounting
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chief financial officer (cfo) certified internal auditor (cia)
certified public accountant certified information technology
(CPA) professional (citp)
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2 of 59
Term
,A proof of the equality of debits and credits in a general ledger is
a(n):
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D.direct expense B.trial balance
A.social responsibility D.articles of incorporation
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3 of 59
Definition
The excess of revenues over expenses for a designated period of
time
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net loss gross income
net income operating income
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4 of 59
Term
,Which one of the following accounts would not be closed at the end
of an accounting
period?
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B.Capital Stock A.dividends
D.direct Expense C.deferred Tax
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5 of 59
Definition
Amounts paid from profits of a corporation to shareholders as a
return on their investment in the stock of the entity
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revenue bonds
retained earnings dividends
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6 of 59
, Term
Use horizontal analysis to compute the percentage increase in sales:
In 2009 sales were
$200,000 and in 2010 sales were $250,000. The result is:
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D.sales increased by 25
A.sales decreased by 20 percent
percent
C.sales remained unchanged B.sales increased by 30 percent
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7 of 59
Term
Which one of the following accounts is not considered factory
overhead?
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C.administrative office salaries B.Capital Stock
B.prepaid expenses on the Balance
A.dividends
Sheet
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Correct
Incorrect
1 of 59
Definition
An individual who is licensed by a state to practice public
accounting
Give this one a try later!
chief financial officer (cfo) certified internal auditor (cia)
certified public accountant certified information technology
(CPA) professional (citp)
Don't know?
2 of 59
Term
,A proof of the equality of debits and credits in a general ledger is
a(n):
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D.direct expense B.trial balance
A.social responsibility D.articles of incorporation
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3 of 59
Definition
The excess of revenues over expenses for a designated period of
time
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net loss gross income
net income operating income
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4 of 59
Term
,Which one of the following accounts would not be closed at the end
of an accounting
period?
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B.Capital Stock A.dividends
D.direct Expense C.deferred Tax
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5 of 59
Definition
Amounts paid from profits of a corporation to shareholders as a
return on their investment in the stock of the entity
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revenue bonds
retained earnings dividends
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6 of 59
, Term
Use horizontal analysis to compute the percentage increase in sales:
In 2009 sales were
$200,000 and in 2010 sales were $250,000. The result is:
Give this one a try later!
D.sales increased by 25
A.sales decreased by 20 percent
percent
C.sales remained unchanged B.sales increased by 30 percent
Don't know?
7 of 59
Term
Which one of the following accounts is not considered factory
overhead?
Give this one a try later!
C.administrative office salaries B.Capital Stock
B.prepaid expenses on the Balance
A.dividends
Sheet
Don't know?
