Accounting Self-Assessment Quiz

Name:_________________________ Period:____ Date:_________ Glencoe Accounting (First-Year Course) Chapter 7, Section 3

1.	When two digits within an amount are reversed it is called
		crossing your fingers
		a slide error
		a transposition error
		a ledger error

2.	When a decimal point is moved by mistake it is called
		a transposition error
		a slide error
		sliding into home
		an equality error

3.	The "Boss" refers to
		your direct supervisor
		the owner of the company
		Bruce Springsteen
		all of the above

4.	If debits do not equal credits, the first step to find the error is to
		call your manager and ask for advice
		add the debit and credit columns again
		review the journal entries for errors
		look for gremlins under the desk

5.	Make a correcting entry when
		the error is discovered before it is posted
		someone tells you to
		the error is discovered after it is posted
		no one is looking

6.	Adding all the debit balances, then adding all the credit balances and comparing the two to see if they are equal is called
		proving the ledger
		balancing the ledger
		recording the entries
		completing the accounting cycle

7.	A list of all the account names and their balances is called
		a chart of accounts
		a ledger balance
		an account balance
		a trial balance