Definitions Quiz - Block 3

Instructions:

What: There are 21 terms that you will be asked to match to the proper definition, plus 5 accounts names (such as cash, accounts receivable, accounts payable, revenue, etc.) where you will be asked to state the normal balance (debit or credit) and which financial statement is associated with the account - for example cash has a normal debit balance and is shown on the balance sheet.

Listing of the Block 3 Definitions. There are flash cards links below that you can use in Materia to help remember these terms.

Why: In order to be develop an appreciation for how accounting principles and different accounting treatments guide the recording of transactions to ultimately provide consistency and ‘allowed’ differences in the financial reporting (LO2*), you need to have a solid foundation in the definitions of the key terms and accounts for Block 3.

Evaluation: You have TWO attempts. Webcourses will record your highest score.

*Refers to our Learning Objectives for the course found in the syllabus.

Select the links below for practice flashcards in Materia:

• Block 3 Definition Flash Cards