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Adjusting Entries Quiz

The document is an online quiz about adjusting entries. It contains 10 multiple choice questions testing knowledge of adjusting entries, which are journal entries made at the end of an accounting period to accrue expenses and revenues for the period. Correct answers are revealed after selecting an option. Topics covered include the types of accounts affected by adjusting entries, entries to accrue expenses and revenues, depreciation entries, and entries for expenses/revenues paid/earned in advance.

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Ofelia Yanos
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441 views2 pages

Adjusting Entries Quiz

The document is an online quiz about adjusting entries. It contains 10 multiple choice questions testing knowledge of adjusting entries, which are journal entries made at the end of an accounting period to accrue expenses and revenues for the period. Correct answers are revealed after selecting an option. Topics covered include the types of accounts affected by adjusting entries, entries to accrue expenses and revenues, depreciation entries, and entries for expenses/revenues paid/earned in advance.

Uploaded by

Ofelia Yanos
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Adjusting Entries Quiz

Test your knowledge of double entry bookkeeping and accounting with our online
adjusting entries quiz.

Not Ready for the Adjusting Entries Quiz?

If you need a refresher course on this topic update your knowledge using our
tutorial about the adjusting entries.

Start the Adjusting Entries Quiz

Click on an answer to reveal whether its Right! or Wrong

1. Adjusting entries always affect which type of accounts?

Balance sheet accounts only

Both balance sheet and income statement accounts

Right!

2.The journal to record an accrued expense includes a credit to which account?

Balance sheet liability account

Expense account

3. If an adjusting entry is not made to accrue expenses, then the balance sheet
liabilities will be?

Understated

Overstated
4. When are adjusting entries usually carried out?

At the start of the accounting period

At the end of the accounting period

5. An adjusting entry to accrue revenue earned but not received at the end of an
accounting period includes which type of entry to a balance sheet asset account?

Credit

Debit

6. The depreciation adjusting entry to record the depreciation expense estimate for
the accounting period requires a credit to which account?

Accumulated depreciation

Depreciation expense

7. Adjusting entries are needed to comply with which accounting concept?

Dual aspect

Matching

8. Expenses paid in advance require what type of adjusting entry?

Deferral (prepaid)

Accrual

9. Adjusting entries never involve which account?

Cash

Expenses

10. What is the normal balance on a deferred revenue account ?

Credit

Debit

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