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Accounting Quiz #2

Generate an image of a modern accounting office with financial documents, a laptop displaying accounting software, and a person reviewing a financial report.

Master Your Accounting Skills: Quiz #2

Test your knowledge in accounting with our engaging quiz designed for both beginners and seasoned professionals. This quiz covers essential concepts and practical applications related to dealership monetary tracking and general ledger operations.

Learn about different types of tools used in accounting.
Understand the significance of debits and credits.
Sharpen your knowledge on general ledger accounts.

10 Questions2 MinutesCreated by CalculatingStar327

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What are the 3 main types of tools dealerships use to track monetary events?

What is a list of all G/L accounts called?

Chart of Accounts

List of Accounts

General Ledger Accounts

Management Accounts

Financial Statement Accounts

List 5 different types of transactions where you might use a special/specific journal?

If the G/L sorts data chronologically, how is information on the Schedule sorted?

In order to increase an asset account, would you debit it or credit it?

Credit

Debit

In order to increase an expense account, would you debit it or credit it?

Debit

Credit

In order to increase a sale account, would you debit it or credit it

Debit

Credit

In order to increase an other income account, would you debit it or credit it

Credit

Debit

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