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Demo >> Instructions

Students must complete the 100-question multiple-choice exam
Students can access the 100-question exam webpage within two weeks after their course payment is processed
A demo exam page with only 10 questions can be used for training purposes. You can try this demo version several times until you understand how to interact with the system correctly
Many students and instructors find it most effective to read the textbook using a study guide during the first two weeks and then read the textbook again with exam questions by hand
One efficient way to organize your studying is to print out the exam questions, mark your answers with a pen, and then return to the exam online to transcribe your answers to the online form. Finally, print or save a copy of your answers for your records, and submit online
Note: Please do not send us your printed version of the exam questions and answers!
A practical option for paper printing before submitting is to save what you have typed in as a PDF file on your computer. Most computers these days have a "print to PDF" option
The normal time for course completion is between one month and one year, but this can be extended if necessary. Most of our students complete the course in one to two months
If you fail the exam, you will be given three free attempts to repeat the test, with two-week intervals between attempts
Please allow one business day to process and evaluate your answers. The status of your exam will be shown on account webpage and sent to you by email

Demo >> Textbook

College Accounting
John Price et al

Demo >> 1


When a firm purchases equipment for cash, what accounts are affected?

	1. Supplies and Cash
	2. Cash and Equipment
	3. Capital and Cash
	4. Cash and Accounts Payable

Demo >> 2


What accounts are affected when purchasing supplies on account?

	1. Supplies and Accounts Receivable
	2. Supplies and Cash
	3. Supplies and Accounts Payable
	4. Supplies and Capital

Demo >> 3


What is the fundamental accounting equation?

	1. Assets = Liabilities + Owner's Equity
	2. Owne's Equity = Liabilities + Assets
	3. Liabilities = Assets + Owner's Equity
	4. Capital = Liabilities - Assets

Demo >> 4


Amounts owed by a customer are called?

	1. Accounts Payable
	2. Unearned Revenue
	3. Cash
	4. Accounts Receivable

Demo >> 5


What account is used when an owner removes money from the business?

	1. Capital
	2. Office Expense
	3. Revenue
	4. Withdrawls

Demo >> 6


Which statement represents a business's activities for a specific period of time such as a month or year?

	1. Balance Sheet
	2. Income Statement
	3. Owner's Equity
	4. Cash Flow Statement

Demo >> 7


If an investment is made in a form other than cash, the investment should be recorded at its

	1. Original Value
	2. Blue Book Value
	3. Replacement Value
	4. Fair Market Value

Demo >> 8


If expenses exceed revenue, a business will report a

	1. Net Loss
	2. Net Income
	3. Negative Profit
	4. Profit

Demo >> 9


Assets, Liabilities and Owner's Equity are all found on which financial statement?

	1. Income Statement
	2. Statement of Owner's Equity
	3. Balance Sheet
	4. Statement of Cash Flow

Demo >> 10


An inflow of money into a business is accounted for under which account?

	1. Expense
	2. Asset
	3. Liability
	4. Revenue

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