Q1. Prema Singh is the bookkeeper for Octabius Industries. Singh has been asked by the CFO of Octabius to review all purchases that occurred between February 1 and February 8 to investigate an error on the receiving dock. Singh will most likely look at the:

A)   initial trial balance.

B)   general ledger.

C)   general journal.

Q2. Which of the following is the best description of the flow of information in an accounting system?

A)   Journal entries, general ledger, trial balance, financial statements.

B)   General ledger, trial balance, general journal, financial statements.

C)   Trial balance, general ledger, general journal, financial statements.

Q3. A listing of all the firm’s journal entries by date is called the:

A)   general ledger.

B)   general journal.

C)   adjusted trial balance.

Q4. The best description of the general ledger is that it:

A)   sorts the entries in the general journal by account.

B)   groups accounts into the categories that are presented in the financial statements.

C)   is where journal entries are first recorded.

答案和详解如下：

Q1. Prema Singh is the bookkeeper for Octabius Industries. Singh has been asked by the CFO of Octabius to review all purchases that occurred between February 1 and February 8 to investigate an error on the receiving dock. Singh will most likely look at the:

A)   initial trial balance.

B)   general ledger.

C)   general journal.

Correct answer is C)

Journal entries record every transaction, showing which accounts are changed by what amounts. A listing of all the journal entries in order by date is called the “general journal.”

Q2. Which of the following is the best description of the flow of information in an accounting system?

A)   Journal entries, general ledger, trial balance, financial statements.

B)   General ledger, trial balance, general journal, financial statements.

C)   Trial balance, general ledger, general journal, financial statements.

Correct answer is A)

Information flows through an accounting system in four steps:
1. Journal entries record every transaction, showing which accounts are changed by what amounts. A listing of all the journal entries in order by date is called the “general journal.”
2. The general ledger sorts the entries in the general journal by account.
3. At the end of the accounting period, an initial trial balance is prepared that shows the balances in each account. If any adjusting entries are needed, they will be recorded and reflected in an adjusted trial balance.
4. The account balances from the adjusted trial balance are presented in the financial statements.

Q3. A listing of all the firm’s journal entries by date is called the:

A)   general ledger.

B)   general journal.

C)   adjusted trial balance.

Correct answer is B)         

A listing of all the journal entries in order by date is called the “general journal.” The general ledger sorts the entries in the general journal by account. At the end of the accounting period, an initial trial balance is prepared that shows the balances in each account. If any adjusting entries are needed, they will be recorded and reflected in an adjusted trial balance. The account balances from the adjusted trial balance are presented in the financial statements.

Q4. The best description of the general ledger is that it:

A)   sorts the entries in the general journal by account.

B)   groups accounts into the categories that are presented in the financial statements.

C)   is where journal entries are first recorded.

Correct answer is A)

Information flows through an accounting system in four steps:
1. Journal entries record every transaction, showing which accounts are changed by what amounts. A listing of all the journal entries in order by date is called the “general journal.”
2. The general ledger sorts the entries in the general journal by account.
3. At the end of the accounting period, an initial trial balance is prepared that shows the balances in each account. If any adjusting entries are needed, they will be recorded and reflected in an adjusted trial balance.
4. The account balances from the adjusted trial balance are presented in the financial statements.

thks

：）

thank you very much