Accounting 110 - Basic Accounting I » Fall 2021 » Video Orientation

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Question #1
General Ledger questions contain multiple tabs.
A.   TRUE
B.   FALSE
Question #2
The requirements tab describes the purpose and input requirements for each tab.
A.   FALSE
B.   TRUE
Question #3
Journal entries are recorded on which tab?
A.   Requirements
B.   General Journal
C.   Trial Balance
D.   General Ledger
Question #4
On the General Journal tab, the dropdown menu, if available, lists the accounts in alphabetical order.
A.   FALSE
B.   TRUE
Question #5
If a transaction does not require a journal entry, you must ________.
A.   leave the journal entry blank
B.   select “No journal entry required” from the dropdown menu
C.   type “None” as the first account title
Question #6
When preparing a journal entry, the credits must be listed before the debits.
A.   TRUE
B.   FALSE
Question #7
When preparing journal entries, the account titles are selected using either the dropdown menu (if available) or by keying in the account titles.
A.   FALSE
B.   TRUE
Question #8
When you have completed a journal entry and want to advance to the next journal entry within the problem, you click on “________.”
A.   View Transaction List
B.   Submit Assignment
C.   Record Entry
D.   View General Journal
Question #9
As soon as you click “Record Entry,” which tabs are immediately updated?
A.   The General Ledger and Trial Balance tabs are both updated
B.   General Ledger tab only.
C.   Trial Balance tab only.
Question #10
In some general ledger questions, the financial statements will be generated automatically.
A.   FALSE
B.   TRUE
Question #11
You click on “View Transaction List” and item 1 is listed with a green box. What does this indicate?
A.   Question 1 has been recorded.
B.   Question 1 has been recorded and is correct.
C.   Question 1 needs to be reviewed.
Question #12
In reviewing the General Ledger tab, you notice that the ending Cash balance is listed in parentheses. What does this indicate?
A.   Cash has a normal ending balance.
B.   Cash has an abnormal ending balance. Chances are you have an incorrect journal entry.
Question #13
By clicking on any account value, you can drill backwards from the financial statements, to the trial balance, to the ledger, and back to the original entry.
A.   TRUE
B.   FALSE
Question #14
The format of the final analysis tab will differ from chapter to chapter and sometimes within a chapter.
A.   TRUE
B.   FALSE
Question #15
Financial statements must be properly formatted, to include a description of all subtotals.
A.   FALSE
B.   TRUE
Question #16
In some general ledger questions, the financial statements need to be constructed by selecting the accounts and account elements that belong on the statement.
A.   FALSE
B.   TRUE
Question #17
The first four tabs will always be the same: Requirements, General Journal, General Ledger and Trial Balance.
A.   FALSE
B.   TRUE

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