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Accounting Quiz 2

💥Accounting Cheat Sheets → https://accountingstuff.com/shop 🖊Accounting Practice Questions → https://accountingstuff.com/practice-... Here are five quick questions that every accountant should know the answer to... 1. The Accounting Equation is: Assets = Liabilities + Equity. True or False? 2. In Double-Entry Accounting, every transaction affects at least two accounts. True or False? 3. A Journal Entry is a summary of a business's revenues and expenses over a period of time. True or False? 4. In Accrual Accounting, Expenses should always be recorded when Cash is paid out. True or False? 5. The Matching Principle says that revenue and all related expenses should be recorded in the same accounting period. True or False? Did you get 5 out of 5? Let us know in the comments. 🔴Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel 🔎FAQ ▪ My Favourite Accounting Book for Beginners → http://geni.us/5mKR7m 🎬LEARN ACCOUNTING BASICS FOR FREE ▪ The Full Playlist →    • ACCOUNTING BASICS for Beginners (Whole Pla...   🔝 CLOUD ACCOUNTING SOFTWARE ▪ QuickBooks Online USA (FREE TRIAL/DISCOUNT) → http://geni.us/jA9N ▪ QuickBooks Online Canada (FREE TRIAL/DISCOUNT) → https://geni.us/bNN7 ▪ Xero (FREE TRIAL) → https://xeroamericas.grsm.io/ck90eoq1... 🚶FOLLOW ME ON ▪ TikTok →   / accounting_stuff   ▪ Facebook →   / accountingstuff   ▪ Insta →   / accountingstuff   ________________________ DISCLAIMER Some of the links above are affiliate links, where I earn a small commission if you click on the link and purchase an item. You are not obligated to do so, but it does help fund these videos in hopes of bringing value to you! ________________________ #Shorts #accountingstuff