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Business English Exercises
 

Accounting terms

Answers to test questions and links to explanations

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 All tests  Quiz  FAQ  ESL Forum  Dictionaries Which account do you assign? (Accounting terms)
accounting terms answer 1
The customary manner in which a business analyzes and records its transactions is by first entering them into a journal.

Correct answer: (a) transactions

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accounting terms answer 2
Journal entries are entered in chronological order, meaning by date, with the earliest date first.

Correct answer: (c) chronological

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 gre score 1340 ... need help what percentage/formula is used for the employer when figuring the employers FICA
accounting terms answer 3
Once the transactions have been entered into the journal they are posted or transferred into their individual General Ledger accounts.

Correct answer: (d) posted

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accounting terms, question 3 english beginner, what does posted mean? what is the definition for posted?

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 gre score 1340 ... need help word Net Assets used in sentences
accounting terms answer 4
All assets increase with a debit entry and decrease with a credit entry.

Correct answer: (c) assets

Meaning of business term assets
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accounting terms answer 5
Liabilities either have a credit or no balance at all.

Correct answer: (b) balance

Meaning of business term balance
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accounting terms, question 5 ielts practice, what does balance mean? what is the definition for balance?

 gre score 1340 ... need help meaning of "capital account"
accounting terms answer 6
Capital accounts represent the owner's net worth in the business.

Correct answer: (d) net

Meaning of business term net
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accounting terms answer 7
revenue accounts are accounts for your sources of business-generated income.

Correct answer: (b) revenue

Meaning of business term revenue
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accounting terms, question 7 sentences practice, what does revenue mean? what is the definition for revenue?

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accounting terms answer 8
The markup is the difference between what a business pays for an item wholesale and what the business sells it for retail.

Correct answer: (a) markup

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accounting terms answer 9
An accounts payable ledger shows how much you owe each of your vendors.

Correct answer: (c) ledger

Meaning of business term ledger
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accounting terms, question 9 english verb, what does ledger mean? what is the definition for ledger?

 gre score 1340 ... need help Meaning of owe
accounting terms answer 10
Accounts receivable shows how much money your customers owe you.

Correct answer: (b) receivable

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accounting terms, question 10 conversation practice, what does receivable mean? what is the definition for receivable?

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Business English Practice Exercises Business English Tests — several topics are covered: office matters, job applications, computer English, money expressions, business law, operations management, retail marketing, e-commerce, accounting terms, contracts and agreements, commercial correspondence, etc.
You will be exposed to a wealth of authentic sample sentences that include a great variety of themes. This compact Business English Test Package is the only printable English test collection currently available on the Internet. It contains 501 Business English Exercises (10 questions per test plus answer keys).  Get your unique Business English Practice Exercises now!

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