A. assets                                  B. revenue

     C. expenses                              D. net income

The balance sheet reports?

        A. depreciation                      B. net lose value

        C. fiscal period                      D. useful life

the time an asset that is subject to depreciation

is called?

           A. salvage value                   B. revenue

           C. depreciable cost                D. trade in-value

the cost of an asset that is subject to depreciation

is called?

          A. contra-account          B. adjusting account

          C. expense account       D. revenue account

An account used with a related account to bring about a decrease in the net amount of the two account balances is called a(n)?

A. asset minus depreciation   B. asset times depreciation

C. revenue plus depreciation    D. asset plus depreciation

If the book value of an asset and the accumulated depreciation are given what is the process to

get the answer?

          A. "adjusting" in the posting reference colum

          B. "adjusting" in the item column

          C. "ledger" in the general ledger

          D. "balance" in the work sheet

When posting an adjusting entry to the general

ledger, write?

             A. debit in the balance sheet columns

             B. credit in the balance sheet columns

       C. debit and a credit in the balance sheet columns

             D. adjustments to owner's equity

A net loss is shown on the work sheet as a(n)?

                 A. income statements columns

                 B. adjustments columns

                 C. Balance sheet columns

                 D. adjusted Trial Balance columns

The fifth pair of columns on a 10-column

worksheet prepared at the end of the

period would be the?

              A. owner's equity is not-up-to-date

              B. cash is not-up-to-date

              C. owner's withdrawels is not-up-to-date

              D. sales is not up-to-date

In completing the work sheet, what is the reason for adding the net income for the year to the Balance Sheet Credit column?

           A. Debit supplies expense, credit supplies

           B. debit supplies expense, credit assets

           C. debit supplies, credit supplies expense

           D. debit revenue, credit supplies expense

Supplies were bought but at the end of the month

not all supplies were used what columns do you

put the info in?

              A. debit in the balance sheet column

              B. credit in the income statement column

              C. debit in the income statement column

              D. debit in the adjustment columns

Net income is shown on the work sheet as a?

A. the cost of additional equipment purchased this year

B. the amount of depreciation taken in past years

C. the cost of existing equipment sold during the year

D. the amount of depreciation taken in past years

What does the credit balance in the accumulated depreciation account represents?

A. debting depreciation expense- office equipment purchased this year

B. debting office equipment and crediting accumulated depreciation- offoce equipment

C. debting depreciation expense-office equipment and crediting accumulated depreciation-office equ.

D. debting office equipment and crediting depreciation expense-office equipment

The adjusting entry for the depreciation of office equipment for the period includes?

                 A. income statement columns

                 B. balance sheet columns

                 C. adjusted trial balance columns

                 D. trial balance columns

The first pair of columns on a 10-column

worksheet would be the?