Multiple choice

1. Which of the following time periods would not be referred to as an interim period? 

a. Monthly 

b. Quarterly 

c. Semi-annually 

d. Annually 

2. Which of the following are in accordance with generally accepted accounting principles? 

a. Accrual basis accounting 

b. Cash basis accounting 

c. Both accrual basis and cash basis accounting 

d. Neither accrual basis nor cash basis accounting 1

3. The matching principle states that expenses should be matched with revenues. Another way of stating the principle is to say that 

a. assets should be matched with liabilities. 

b. efforts should be matched with accomplishments. 

c. dividends to stockholders should be matched with stockholders' investments.

d. cash payments should be matched with cash receipts. 

4. The information for preparing a trial balance on a worksheet is obtained from 

a. financial statements. 

b. general ledger accounts. 

c. general journal entries. 

d. business documents.