Question : 131. The balance of the account determined by A. adding all of the : 1246815

131. The balance of the account is determined by 
A. adding all of the debits to all of the credits.
B. always subtracting the debits from the credits.
C. always subtracting all of the credits from the debit.
D. adding all of the debits, adding all of the credits, and then subtracting the smaller sum from the larger sum.

132. A list of the accounts is called 
A. ledger
B. chart of accounts
C. T-Account
D. Debit

133. On the chart of accounts, the balance sheet accounts are normally listed in the following order 
A. liabilities, assets, stockholders’ equity
B. assets, liabilities, stockholders’ equity
C. stockholders’ equity, assets, liabilities
D. assets, stockholders’ equity, liabilities

134. In which order are the accounts listed in the chart of accounts? 
A. assets, expenses, liabilities, stockholders’ equity, revenues
B. stockholders’ equity, assets, liabilities, revenues, expenses
C. assets, liabilities, stockholders’ equity, revenues, expenses
D. assets, liabilities, revenues, expenses, stockholders’ equity

135. Which are the parts of the T account? 
A. title, date, total
B. date, debit side, credit side
C. title, debit side, credit side
D. title, debit side, total

136. Which of the following is not a correct rule of debits and credits?  
A. assets, expenses and dividends are increased by debits
B. assets are decreased by credits and have a normal debit balance
C. liabilities, revenues and stockholders’ equity are increased by credits
D. the normal balance for revenues and expenses is a credit

137. Prarie Clinic purchased X-ray equipment for $4,000, paid $1,275 down, with the remainder to be paid later.  The correct entry would be 
A. Equipment                     1,275
           Cash                              1,275
B. Cash                          1,275
Accounts Payable       2,725
           Equipment                   4,000
C. Equipment Expense     4,000
           Accounts Payable         1,275
           Cash                            2,725
D. Equipment                   4,000
           Accounts Payable         2,725
           Cash                            1,275

138. The chart of accounts is designed to 
A. alphabetized the accounts to make reading easier for its financial statement users.
B. analyze the accounts and organize them in order of dollar amount to simplify the accounting information for users.
C. summarize the transactions and determine their ending balances.
D. meet the information needs of a company and other financial statement users.

139. Which of the following group of accounts are all assets? 
A. Cash, Accounts Payable, Buildings
B. Accounts Receivable, Revenue, Cash
C. Prepaid Expenses,  Buildings, Patents
D. Unearned Revenues, Prepaid Expenses, Cash

140. Of the following, which statement istrue about assets? 
A. Assets include physical and intangible assets.
B. Assets include only physical assets.
C. Assets are owned solely by stockholders of the company
D. Assets are the result of selling products or services to customers.