Foundation Skills
A local accounting firm wrote in a recommendation for Mary that she possesses a great deal of integrity and has excellent basic skills in literacy and computation. This is classified as which skill?
21st Century Skills
Mary has applied for a position as an accounting clerk for a local 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?
Workplace Skills
Lisa is applying for a position in a small insurance agency. The company is looking to hire an individual that can convert their manual accounting system to a computerized system. She listed on her application that she has an accounting degree as well as an emphasis in computerized systems. This is classified as which skill?
21st Century Skills
John has applied for a position as Chief Financial Officer for a Fortune 500 company. He listed as his qualifications that he is a problem-solver and has the ability to plan and resolve issues. This is classified as which skill?
Self-direction
Sharon takes responsibility and initiative for her own work at Accounting Temps. This is an example of which 21st Century Skill?
Independence
Brian is an accountant in a local firm. He submits an accounting report to his manager that suggests an action that will ultimately benefit him monetarily. This example is a violation of which key principle for ethics in accounting?
Integrity
Jason demonstrates accuracy and truthfulness when he works with his accounting clients. This is an example of which key principle for ethics in accounting?
Debit Cash and credit Accounts Receivable/Parker, INC.
The transaction, RECEIVED CHECK FROM PARKER, INC., IN PAYMENT ON ITS ACCOUNT, would result in which journal entry?
Debit Cash and credit Frank Harper, Capital
The transaction, RECEIVED CHECK FROM FRANK HARPER, OWNER, AS AN INVESTMENT, would result in which journal entry?
Debit Cash and credit Legal Fees
The transaction, RECEIVED A CHECK FOR $2500 FOR LEGAL FEES, would result in which journal entry?
Debit Supplies and credit Accounts Payable/Davis Supply Store
The transaction, BOUGHT SUPPLIES ON ACCOUNT FROM DAVIS SUPPLY STORE, would result in which journal entry?
Debit Prepaid Insurance and credit Cash
The transaction, PAID CASH FOR INSURANCE, would result in which journal entry?
Debit Rent Expense and credit Cash
The transaction, PAID CASH FOR RENT, would result in which journal entry?
Debit Utilities Expense and credit Cash
The transaction, PAID CASH FOR ELECTRIC BILL (UTILITIES EXPENSE) would result in which journal entry?
Debit Accounts Receivable/Beth Parker and credit Sales
The transaction, SOLD SERVICES ON ACCOUNT TO BETH PARKER, would result in which journal entry? (
Debit Miscellaneous Expense and credit Cash
The transaction, PAID CASH FOR MISCELLANEOUS EXPENSE, $400, would result in which journal entry?
receipt
In the transaction, RECEIVED CASH FROM OWNER AS AN INVESTMENT, the source document is a/an:
invoice.
In the transaction, BOUGHT SUPPLIES ON ACCOUNT FROM DIXON SUPPLY CO., the source document is a/an:
invoice.
In the transaction, BILLED ANDERSON COMPANY FOR WORK COMPLETED, the source document is a/an:
Objectivity
Jamie is an accountant. She knows that she is expected to produce accurate financial reports from her audit. She knows when she submits her report to her superiors her friend will suffer consequences for misappropriation of funds. Jamie submits an accurate report and follows which key principle for ethics in accounting?
