Shared Flashcard Set

Details

unit 1 review
acct review
15
Accounting
11th Grade
12/14/2011

Additional Accounting Flashcards

 


 

Cards

Term
Foundation Skills
Definition
A loca l accounting firm wrote in a recommendation for Mary that she possesses a great deal of integrity and has exce llent basic skills in literacy and computation. This is classified as which skill?
Term
21st Century Skills
Definition
Mary has applied for a position as an accounting clerk for a loca l company. She listed as her qualifications that she is a problem-solver and needs little direction to complete assigned tasks. This is classified as which skill?
Term
Workplace Skills
Definition
Lisa is apply ing for a position in a sma ll insurance agency. The company is looking to hire an indiv idua l that can conve rt the ir manua l accounting system to a compute rized system. She listed on he r application that she has an accounting degree as we ll as an emphasis in computerized systems. This is classified as which skill?
Term
21st Century Skills
Definition
John has applied for a position as Chief Financ ial Officer for a Fortune 500 company. He listed as his qua lifications that he is a problem-solver and has the ability to plan and resolve issues. This is classified as which skill?
Term
Self-direction
Definition
Sharon takes responsibility and initiative for her own work at Accounting Temps. This is an example of which 21st Century Skill?
Term
Independence
Definition
Brian is an accountant in a loca l firm. He submits an accounting re port to his manager that suggests an action that will ultimate ly benefit him monetarily. This example is a violation of which key princ iple for ethics in accounting?
Term
Integrity
Definition
Jason demonstrates accuracy and truthfulness when he works with his accounting clients. This is an example of which key princ iple for ethics in accounting?
Term
Debit Cash and credit Accounts Rece ivable /Parker, INC.
Definition
The transaction, RECEIVED CHECK FROM PARKER, INC., IN PAYMENT ON ITS ACCOUNT, would result in which journa l entry?
Term
Debit Cash and credit Frank Harper, Capital
Definition
The transaction, RECEIVED CHECK FROM FRANK HARPER, OWNER, AS AN INVESTMENT, would result in which journa l entry?
Term
Debit Cash and credit Legal Fees
Definition
The transaction, RECEIVED A CHECK FOR $2500 FOR LEGAL FEES, would result in which journal entry?
Term
Debit Supplies and credit Accounts Payable /Davis Supply Store
Definition
The transaction, BOUGHT SUPPLIES ON ACCOUNT FROM DAVIS SUPPLY STORE, would result in which journal entry?
Term
Debit Prepa id Insurance and credit Cash
Definition
The transaction, PAID CASH FOR INSURANCE, would result in which journa l entry?
Term
Debit Rent Expense and credit Cash
Definition
The transaction, PAID CASH FOR RENT, would result in which journa l entry?
Term
Debit Utilities Expense and credit Cash
Definition
The transaction, PAID CASH FOR ELECTRIC BILL (UTILITIES EXPENSE) would result in which journal entry?
Term
Debit Accounts Rece ivable /Beth Parker and credit Sales
Definition
The transaction, SOLD SERVICES ON ACCOUNT TO BETH PARKER, would result in which journal entry?
Supporting users have an ad free experience!