Bookkeeping 101

Create an image of a friendly bookkeeper at a desk with financial documents, a laptop, and a calculator, surrounded by books on accounting and bookkeeping, bright and inviting office setting.

Master Your Bookkeeping Skills

Welcome to Bookkeeping 101! This engaging quiz is designed for anyone looking to enhance their bookkeeping knowledge and skills. Whether you are a business owner, aspiring accountant, or just curious about the financial world, this quiz has something for you!

Test your knowledge on bookkeeping fundamentals.
Learn important concepts that every business should understand.
Explore the benefits of effective bookkeeping practices.

12 Questions3 MinutesCreated by OrganizingOtter523

What are some benefits to outsourcing your bookkeeping?

Save money and time

I HAVE NO CLUE!

Expert and quality assurance

Getting back to focus on your business vs. The paperwork!

What does a balance sheet report?

Reports revenues and expenses and calculates net income/net loss.

Shows how capital has changed during the set period.

Reports assets, liabilities, and owner's equity as of the last day of the period.

All of the above

Which is NOT a step in the accounting cycle?

Journalize and post closing entries

Adjusting entries

Analyze and Journalize transactions as they occur

Jump ship, I have no clue what I am doing!

What is Accrual Basis Accounting?

Accrual basis accounting records the effect of each transaction as it occurs—that is, revenues are recorded when earned and expenses are recorded when incurred

Accrual basis only records transactions with cash: cash receipts and cash payments. When cash is received, revenue is recorded

This is a fancy word for Trail balance

Wait, I'm confused.....

What does my friendly, neighborhood spi... I mean... Local bookkeeper named Camilla do?

Climbs walls and fights crime in NYC

Works directly with you and your business to ensure quality care of your books.

Has got your back 100% and is willing to go above and beyond for her clients

All of the Above

Bookkeeping 101

Master Your Bookkeeping Skills

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