Reference no: EM132782448

Problem 1: Balance sheet accounts are

Option 1: permanent accounts.
Option 2: temporary accounts.
Option 3: accounts with debit balances only.
Option 4: adjusting accounts.

Problem 2: A journal entry that contains more than two accounts is called

Option 1: posted journal entry.
Option 2: a compound journal entry.
Option 3: an adjusting journal entry.
Option 4: an erroneous journal entry.

Problem 3: When accounting information is accumulated in individual accounts, a chart of accounts is

Option 1: lirnited to those accounts that will appear in the baiance sheet.
Option 2: changed each year by an entity depending on the results of operations.
Option 3: a listing of each account that will be used to accumulate information.
Option 4: used to determine whether a debit or credit balance will appear in each of the accounts at the end of the accounting period