Accounting Chapter 4 Test

T/F- separate amounts in special amount columns are posted individually

False

T/F- the two steps for opening an account are writing the account title and recording the balance

False

(mc) When chart of account (and everything else) is up to date, the business has done what?

File maintenance

Post general amount column individually and special amount column totals into already opened ledgers.

He gave us this paper. (if you didn't get this sheet, we can share)

(mc) Process of moving journal information to a ledger

Posting

T/F- a check mark in parentheses below a general debit column total indicates that the total is not posted

True

T/F- if the previous account balance and the current entry posted to an account are both debits, the new account balance is a debit

True

T/F- only the column totals for special amount columns in a journal are posted

True

T/F- the account number is placed in the post. ref. column of the journal as the last step in the posting procedure

True

T/F- when adding a new expense account between accounts numbered 510 and 520, the new account is assigned the account number 515

True

(mc) You resume posting where?

Where you left off (the last row you put a post ref. account number into)

didn't read one true/false and one multiple choice

t/f he probably just forgot to read and mc he said was too "wordy"