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Crash Course: Accounting Core in a Weekend Practice Test 202

Timed mock exams, detailed analytics, and practice drills for Crash Course: Accounting Core in a Weekend.

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Q1Domain Verified
A company receives a bill from a supplier for services rendered this period but will pay it next period. What is the immediate impact on the accounting equation?
Liabilities increase and equity decreases
Assets and liabilities increase
Liabilities and equity decrease
Assets and equity decrease
Q2Domain Verified
A company performs a service for a customer who pays with a credit card. The credit card company charges a 3% fee. Assuming the service revenue was $1,000, what is the correct journal entry at the time of the transaction?
Debit Cash $970, Debit Credit Card Expense $30; Credit Service Revenue $1,000
Debit Cash $1,000; Credit Service Revenue $970, Credit Credit Card Expense $30
Debit Cash $1,000; Credit Service Revenue $1,000
Debit Accounts Receivable $1,000; Credit Service Revenue $1,000
Q3Domain Verified
Which of the following transactions would result in an increase in both assets and liabilities?
Purchasing equipment by signing a long-term note payable
Paying off an accounts payable with cash
An owner investing cash in the business
Providing services to a customer on account

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This domain protocol is rigorously covered in our 2026 Elite Framework. Every mock reflects direct alignment with the official assessment criteria to eliminate performance gaps.

This domain protocol is rigorously covered in our 2026 Elite Framework. Every mock reflects direct alignment with the official assessment criteria to eliminate performance gaps.

This domain protocol is rigorously covered in our 2026 Elite Framework. Every mock reflects direct alignment with the official assessment criteria to eliminate performance gaps.

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