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9. Accounts of a single type are kept in this ledger. supplemental ledger. additional...

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Accounting

9. Accounts of a single type are kept in this ledger.

  1. supplemental ledger.
  2. additional ledger.
  3. subsidiary ledger.
  4. None of these answers are correct.

  1. Which of these statements about "T" accounts is FALSE?
  1. They are used mainly in classroom demonstrations.
  2. They have both a left side and a right side.
  3. They are used extensively in computer accounting.
  4. Each account has a normal balance which is either a debit or a credit.

  1. During the month of October, Ford advertised on the Internet. Ford received the bill for $600 in October, but waited until November to pay the advertising expense. The journal entry to record the payment in November is
  1. Accounts Payable debit; Cash credit.
  2. Advertising Expense debit; Accounts Payable credit.
  3. Advertising Expense debit; Cash credit.
  4. A journal entry is not made in November.

  1. Bookkeeping is primarily
  1. preparing financial reports.
  2. analyzing the company's financial position.
  3. record-keeping.
  4. preparing tax reports

  1. The left side of any account is the
  1. debit side.
  2. credit side.
  3. ending balance.
  4. footings.

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