Chart of Accounts
The most liquid asset in a chart of accounts?
Cash
This type of asset includes items such as shoe laces, tires, or other raw material
Supplies
The _________ basis of accounting records activity as cash is earned
Cash
This team won last year's Superbowl (LVIII)?
Kansas City Chiefs
These accounts are listed in alphabetical order
Expense Accounts
This asset account is used to record a payment of insurance
Prepaid Insurance
The _________ basis of accounting records revenue and expenses when they occur regardless of whether of not cash exchanges hands.
accrual
What is the capital of the United States?
This account, found under "Liabilities" in the chart of accounts, represents money owed by the business to external parties.
Accounts Payable
Accounts Receivable
This statement records all of the income of a company
Income statement
In ancient Greek religion and mythology, he rules as king of the gods on Mount Olympus
Zeus
You would typically find an account for "Sales" under this section of the chart of accounts.
Revenue Section
The most liquid of all assets?
Cash
This statement records all of the assets and liabilities of a company
Balance Sheet
Who played Tony Stark (Iron Man) in the Marvel Cinematic Universe?
Robert Downey, Jr.
These accounts in the chart of accounts represent the owner’s investment and retained earnings in the business.
Owner's Equity
This asset is adjusted over the period as coverage period elapses
Prepaid Insurance
Fiscal Period
This MLB team has the second most world series titles
St. Louis Cardinals