Accounting Semester 1 Exam Review Sheet
Cycle 1 Test
Cycle One Test will cover Chapters 1-9.
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Please review the following terms for the matching portion of the test:
Accounting equation
Adjusting entries
Asset
Balance sheet
Chart of accounts
Closing entries
Fiscal period
Journalizing
Petty cash
Post-closing trial balance
Posting
Proprietorship
Revenue
Service business
Source document
Special amount column
T account
Temporary accounts
Trial balance
Work sheet
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There will also be a True/False section of the test that analyzes the accounting
practices you learned in Chapters 1-9.
There will also be a Multiple Choice section that will ask you to identify accounting
concepts and practices from Chapters 1-9.
You will also be asked to journalize transactions onto a Journal Sales Credit and
Cash Debit&Credit are the only special amount columns. You have to prove and
rule the journal as well.
Please review how to journalize a transaction involving Petty Cash – Ch. 6.