Practice Quiz

Consulting Case Interview Practice Questions - Question List

Select how would you like to study

Study Mode Free Daily Question Test Mode
141. The purpose of the trial balance is to:
  1. Check the solvency of the company
  2. Identify credits and debits
  3. Analyze the accounting period
  4. Verify that credits equal debits
  5. Find misclassified transactions
See answer
142. Jenny owns a bakery that makes hot cross buns. She purchased a delivery van to deliver her buns to local restaurants. She pays $300 each month for her loan payment on the van. This payment is an example of:
  1. Increasing a liability
  2. Annualizing a debt
  3. Highway robbery
  4. Amortization
  5. Depreciation
See answer
143. Retained earnings are revenue of a corporation that is:
  1. Not paid out in dividends
  2. Paid to shareholders
  3. Considered gross profit
  4. Shown in a trial balance
  5. Issued in stock
See answer
144. Jenny’s Bakery recently delivered a bad batch of cakes to a local restaurant. Jenny quickly refunded the cost of the cakes to the restaurant. Her accountant made a __________ to her Refunds of Sales account for this transaction:
  1. note
  2. debit
  3. credit
  4. cost adjustment
  5. deposit
See answer
145. Money owed to others for goods or services are known as:
  1. Accounts receivable
  2. Assets
  3. Accounts payable
  4. Receipts
  5. Equity
See answer

Select how would you like to study

Study Mode Free Daily Question Test Mode