Accounting II 3.01 Review

Accounting II 3.01 Review

9th Grade - University

25 Qs

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Accounting II 3.01 Review

Accounting II 3.01 Review

Assessment

Quiz

Other

9th Grade - University

Hard

Created by

Jeff Langer

Used 29+ times

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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An accounting system showing accounting information for two or more departments:
Merchandising Business
Contra Account
Departmental Accounting System
Cash Discount

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A business that purchases and sells goods:
Merchandising Business
Retail Business
Manufacturing Business
Green Business

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An account that reduces a related account on a financial statement:
Primary Account
Cash Discount
Contra Account
Secondary Account

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A deduction that a vendor allows on the invoice amount to encourage prompt payment:
Credit Account
Primary Account
Secondary Account
Cash Discount

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A cash discount on purchases taken by a customer:
Purchases Discount
Owners Discount
Payment Discount
Salary Discount

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A cash discount on sales:
Sales Discount
Purchases Discount
Salary Discount
Payroll Discount

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Merchandise inventory determined by keeping a continuous record of increases, decreases, and balance on hand:
Periodic Inventory
Weekly Inventory
Bi-Weekly Inventory
Perpetual Inventory

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