29 Jun Question 1.On the trial balance, which
Question
1.On the trial balance, which of the following should have the balances listed in the debit column?
A.Assets, dividends, and expenses
B.Liabilities, revenues, and common stock
C.Liabilities, revenues, and dividends
D.Assets, revenues, and dividends
2.The unadjusted trial balance for depreciation expense shows a $780 balance. The expense was adjusted
by $235. The adjusted trial balance figure for depreciation expense is now a
A.$545 debit.
B.$1,015 debit.
C.$1,015 credit.
D.$545 credit.
3.The balance sheet is used to report
A.the financial position on a specific date.
B.results of operations for a specific period.
C.results of operations for a specific date.
D.the financial position for a specific period.
4.Which business form is similar to a corporation in regard to owner liability?
A.Sole proprietorship
B.Limited liability company
C.Partnership
D.Limited liability corporation
5.A T-account has a $509 debit balance. This account is most likely not
A.advertising expense.
B.land.
C.common stock.
D.dividends.
6.A T-account has which major parts?
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