超星 - Chapter 2 Quiz

单选题

Which of the following is not an asset account?

A. Common Stock
B. Salary Expense
C. Service Revenue
D. None of the listed accounts is an asset.

单选题

Which statement is false?

A. Revenues are increased by credits.
B. Assets are increased by debits.
C. Dividends are increased by credits.
D. Liabilities are decreased by debits.

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单选题

The journal entry to record the receipt of land and a building and issuance of common stock

A. debits Land and Building and credits Common Stock.
B. debits Land and credits Common Stock.
C. debits Common Stock and credits Land and Building.
D. debits Land, Building, and Common Stock.

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单选题

The journal entry to record the purchase of supplies on account

A. credits Supplies and debits Cash.
B. debits Supplies and credits Accounts Payable.
C. debits Supplies Expense and credits Supplies.
D. credits Supplies and debits Accounts Payable.

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单选题

If the credit to record the purchase of supplies on account is not posted,

A. Liabilities will be understated.
B. Expenses will be overstated.
C. Assets will be understated.
D. Stockholders’ equity will be understated.

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单选题

The journal entry to record a payment on account will

A. debit Accounts Payable and credit Retained Earnings.
B. debit Cash and credit Expenses.
C. debit Expenses and credit Cash
D. debit Accounts Payable and credit Cash

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单选题

If the credit to record the payment of an account payable is not posted

A. expenses will be understated
B. cash will be understated
C. liabilities will be understated
D. cash will be overstated

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单选题

A trial balance lists all the accounts with their current balances.
B. A trial balance is the same as a balance sheet.
C. A trial balance can verify the equality of debits and credits.
D. A trial balance can be taken at any time.

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单选题

A business’s receipt of a $115,000 building with an $75,000 mortgage payable and issuance of $40,000 of common stock will

A. Increase stockholders’ equity by $40,000.
B. Increase assets by $40,000.
C. Increase assets by $75,000.
D. Increase stockholders’ equity by $115,000.

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单选题

NextTalk, a new company, completed these transactions. (1) Stockholders invested $51,000 cash and inventory with a fair value of $30,000. (2) Sales on account, $22,000. What will NextTalk’s total assets equal?

A. $103,000
B. $51,000
C. $81,000
D. $73,000

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