Accounting - Intro Quizzes

T or F: On the General Journal tab, the dropdown menu, if available, lists the accounts in alphabetical order

False

T or F: The requirements tab describes the purpose and input requirements for each tab

True

T or F: Each video is between 4 and 6 minutes long

False

Journal entries are recorded on which tab?

General Journal

As soon as you click "Record Entry," which tabs are immediately updated? a. General Ledger tab only. b. Trial Balance tab only. c. The General Ledger and Trial Balance tabs are both updated.

c. The General Ledger and Trial Balance tabs are both updated.

T or F: There is no way to know if your assignment is complete

False

T or F: In some general ledger questions, the financial statements will be generated automatically

True

T or F: SmartBook 2.0 allows you to start your active learning experience by either reading or by jumping right in to start answering questions

True

In reviewing the General Ledger tab, you notice that the ending Cash balance is listed in parentheses. What does this indicate? a. Cash has a normal ending balance. b. Cash has an abnormal ending balance. Chances are you have an incorrect journal entry.

b. Cash has an abnormal ending balance. Chances are you have an incorrect journal entry.

If a transaction does not require a journal entry, you must ________. a. leave the journal entry blank b. select "No journal entry required" from the dropdown menu c. type "None" as the first account title

b. select "No journal entry required" from the dropdown menu

T or F: When preparing a journal entry, the credits must be listed before the debits

False

When you have completed a journal entry and want to advance to the next journal entry within the problem, you click on "________." a. View Transaction List b. View General Journal c. Record Entry d. Submit Assignment

c. Record Entry

T or F: Financial statements must be properly formatted, to include a description of all subtotals

True

T or F: The format of the final analysis tab will differ from chapter to chapter and sometimes within a chapter

True

T or F: The learning objective is at the top of each screen

True

T or F: The most important topics in the text are initially highlighted for you. You can navigate through the highlights by clicking the 'Concepts' (forward and back) arrows

True

T or F: The progress bar indicates how many concepts you have completed, how many are in progress, and how many are still left in the assignment

True

T or F: The question map indicates, in yellow, any questions that have been skipped

True

T or F: There is one knowledge check associated with each video

True

T or F: There may be several parts to each learning objective

True

T or F: When preparing journal entries, the account titles are selected using either the dropdown menu (if available) or by keying in the account titles

True

T or F: If you click on 'Learn About This' after answering a question, you will be brought to the top of the sub-section where that concept can be found. If you click on 'Learn About This' before answering the question, you will be brought to the exact section where the concept is discussed

False

T or F: It is optional to indicate how confident you are in your answer (High, Medium, Low) before you submit your answer(s)

False

T or F: After getting some questions wrong, you must click on a resource such as "Learn About This" to learn more about the concept before moving forward

True

T or F: By clicking on any account value, you can drill backwards from the financial statements, to the trial balance, to the ledger, and back to the original entry

True

T or F: General Ledger questions contain multiple tabs

True

T or F: In some general ledger questions, the financial statements need to be constructed by selecting the accounts and account elements that belong on the statement

True

T or F: Once you have completed your assignment, you will see your progress, accuracy, and a list of the most challenging concepts before returning to your Connect assignment

True

T or F: The first four tabs will always be the same: Requirements, General Journal, General Ledger and Trial Balance

True

The Concept Overview Video assignments are organized ________. a. by level of difficulty b. by learning objective c. in chapter order d. in alphabetical order

b. by learning objective

You click on "View Transaction List" and item 1 is listed with a green box. What does this indicate? a. Question 1 has been recorded and is correct. b. Question 1 needs to be reviewed. c. Question 1 has been recorded.

c. Question 1 has been recorded.