1. 2 pt 3 pt 4 pt 5pt 1 pt 2 pt 3 pt 4 pt 5 pt 1 pt 2pt 3 pt 4pt 5 pt 1pt 2pt 3 pt 4 pt 5 pt 1 pt 2 pt 3 pt 4pt 5 pt 1pt Chapter 1&2 Into to Acct Chapter 3-4Chapter 5-6Chapter 7-9 Chapter 10&11

2. An accountant who has met certain educational and experience requirements and passes a national test

3. What is a CPA?

4. Organizations that operate not to make an income

5. What are non profit organizations?

6. Nick name for top public accounting firms

7. What is big four?

8. The three forms of a business organization

9. What are sole proprietorships, partnerships and corporations

10. The three accounting assumptions

11. What are business entity, accounting period and going concern

12. The accounting equation

13. What is Assets=Liabilities + Owner’s Equity

14. Buying something on credit means you will pay for it…

15. What is later?

16. Income earned from the sale of goods or services

17. What is revenue?

18. The normal balance of an asset

19. What is debit?

20. The side that credit is on

21. What is Right?

22. Accounts that have zero balances at the beginning of the period:

23. What are temporary accounts?

24. The normal balance of a withdrawal account

25. What is debit?

26. Examples of source documents:

27. What are invoices, receipts, memorandums, etc.

28. A record of the transactions of a business:

29. What is a journal?

30. A 12 month period that does not start on January 1 st.

31. What is a fiscal year?

32. The process of transferring information from the journal to the ledger

33. What is posting?

34. Writing 190 as 19 is this type of error

35. What is a slide error?

36. The principle that allows a business to match revenue to expenses in a period

37. What is the matching principle

38. Expenses are greater than revenue

39. What is net loss?

40. The financial statements in order of preparation

41. What are income statement, statement of changes in owner’s equity, and balance sheet

42. The second closing entry

43. What is debit income summary and credit each expense account

44. The final step of the accounting cycle

45. What is post closing trial balance?

46. Entry to record bank service fee:

47. What is debit miscellaneous expense and credit cash

48. Checks that have been written but not presented to the bank for payment yet

49. What are outstanding checks?

50. The process of marking a check that has an error so that it will not be used:

51. What is voiding a check?