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Bookkeeping!
Merlin's Basic Accounting Quiz

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11. The gross increases in owner's equity resulting from operations and other business activities are called -

(a)    Revenues
(b)    Expenses
(c)    Liabilities
(d)    Owner's Draws

12. A book containing the account balances for all of a business's assets, liabilities,
equity, revenue, and expense accounts is called -

(a)    Journal
(b)    General Ledger
(c)    Subsidiary Ledger
(d)    Worksheet

13. Bank Reconciliations should normally be performed -

(a)    Weekly
(b)    Monthly
(c)    Quarterly
(d)    Annually

14. Which of the following is not a type of account that normally has a credit balance ?

(a)    Liabilities
(b)    Owner's Equity
(c)    Revenue
(d)    Expense

15. Which of the following is not a type of account that normally has a debit balance ?

(a)    Asset
(b)    Expense
(c)    Owner's Draw
(d)    Revenue

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