Accounting II - Chapter 11

Accounting II - Chapter 11

9th - 12th Grade

30 Qs

quiz-placeholder

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Accounting II - Chapter 11

Accounting II - Chapter 11

Assessment

Quiz

Specialty

9th - 12th Grade

Practice Problem

Medium

Created by

Tina Gummo

Used 128+ times

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30 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

An amount earned by a corporation and not yet distributed to stockholders.

retained event
gross earnings
total earnings
retained earnings

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Credit allowed to a customer for part of the sales price of merchandise that is not returned, resulting in a decrease in the accounts receivable of the merchandising business.

sales forgivings
purchase allowance 
sales allowance
sales returns

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Earnings distributed to stockholders.

dividends
divisors
divisions
disciples

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

 A form prepared by the customer showing the price deduction taken by the customer for a return or an allowance.

sales memorandum
debit memorandum
credit memorandum
purchase memorandum

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Credit allowed to a customer for the sales price of returned merchandise, resulting in a decrease in the accounts receivable of the merchandising business.

Purchase return
Sales Return
Returns
Allowances

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

 Credit allowed for the purchase price of returned merchandise, resulting in a decrease in the customer’s account payable to the vendor.

purchase allowance
general journal
general ledger
declaring dividends

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A journal with two amount columns in which all kinds of entries can be recorded.

special journal
purchase journal
general journal
sales journal

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