Accounting Final
Accounting Final MockMock Exam
Exam 2026 | Practice Questions, Solutions & Exam Preparation Guide
Study online at https://quizlet.com/_jfaru4
1. Which of the following accounts is not reported Sales Revenue
in the stockholders' equity section of the balance
sheet?
2. The retained earnings account had a beginning $5,300
credit balance of $26,400. During the period, the
business had a net loss of $12,350, and the com-
pany paid dividends of $8,750. The ending balance
in the retained earnings account is:
3. An alternative form of the accounting equation is: Assets - Liabilities = Stockholders'
Equity
4. The assumption that a business will continue to Going concern assumption
operate into the future is the:
5. Which is not a current liability? A note payable due in 2 years
6. A company receives a $50,000 cash deposit from The company records deferred
a customer on October 15, but will not provide revenue on October 15
services until November 20. Which statement is
true?
7. Which would increase assets and increase liabili- Purchase office supplies on ac-
ties? count
8. When a company makes an end-of-period adjust- Rent Expense
ing entry that includes a credit to Prepaid Rent, the
debit is usually made to:
9. Which would NOT represent good controls over The employee that receives cash
cash receipts? and checks should also deposit
them in the bank
1/4
Accounting Final MockMock Exam
Exam 2026 | Practice Questions, Solutions & Exam Preparation Guide
Study online at https://quizlet.com/_jfaru4
1. Which of the following accounts is not reported Sales Revenue
in the stockholders' equity section of the balance
sheet?
2. The retained earnings account had a beginning $5,300
credit balance of $26,400. During the period, the
business had a net loss of $12,350, and the com-
pany paid dividends of $8,750. The ending balance
in the retained earnings account is:
3. An alternative form of the accounting equation is: Assets - Liabilities = Stockholders'
Equity
4. The assumption that a business will continue to Going concern assumption
operate into the future is the:
5. Which is not a current liability? A note payable due in 2 years
6. A company receives a $50,000 cash deposit from The company records deferred
a customer on October 15, but will not provide revenue on October 15
services until November 20. Which statement is
true?
7. Which would increase assets and increase liabili- Purchase office supplies on ac-
ties? count
8. When a company makes an end-of-period adjust- Rent Expense
ing entry that includes a credit to Prepaid Rent, the
debit is usually made to:
9. Which would NOT represent good controls over The employee that receives cash
cash receipts? and checks should also deposit
them in the bank
1/4
