ACCT 251 Introduction to Accounting Final Exam

ACCT 251 Introduction to Accounting Final Exam

ACCT 251 Introduction to Accounting Final Exam
ACCT251 Final Exam – Page 1

The Final Exam has 3 pages and is worth 270 points total. This first page has all Multiple Choice questions.

Question 1.1. (TCO 1) To display the size of your backup file, you can use the Windows program called: (Points : 5)

Windows Explorer
Scan disk
Windows Accessories
Windows Defender

Question 2.2. (TCO 1) The Edit menu allows you to do the following: (Points : 5)

find transactions

Question 3.3. (TCO 1) The balance sheet lists: (Points : 5)

assets, liabilities, and capital of a business.
revenues and expenses of a business.
the percentage of revenue at the end of the year.
the percentage of debt at the end of the year.
cash disbursements.

Question 4.4. (TCO 1) Business managers and owners depend on financial statements because: (Points : 5)

Peachtree automatically calculates accurate financial statements.
financial statements are for internal use only.
they have primary responsibility for the business.
they can evaluate cash and make appropriate decisions.
they can use account balances to customize financial statements.

Question 5.5. (TCO 2) The sample company, Bellwether Garden Supply, uses which method of posting? (Points : 5)

Batch posting
Real-time posting
Cash basis posting
Accrual basis posting
Just-in-time posting

Question 6.6. (TCO 2) The posting method used by the business in Chapter 9 is: (Points : 5)

batch posting
real-time posting
a combination of batch posting and real-time posting.
accrual posting
cash basis posting

Question 7.7. (TCO 2) The account type specified on the chart of accounts is also the account classification for the: (Points : 5)

balance sheet and income statement
general ledger
general journal

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