Accounting I Review

Accounting I Review

9th - 12th Grade

60 Qs

quiz-placeholder

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Accounting I Review

Accounting I Review

Assessment

Quiz

Other

9th - 12th Grade

Medium

Created by

Jeff Langer

Used 14+ times

FREE Resource

60 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An amount recorded on the right side:
Debit.
Credit.
An increase.
A decrease.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a business buys an asset on one date and agrees to pay on a later date, the transaction is:
delayed.
on account.
increased.
none of these.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The source document for cash payments is a:
check.
memorandum.
receipt.
sales invoice.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A ______ is used as a source document for recording a sale on account.
invoice
check
receipt
memorandum

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A business form giving written acknowledgement for cash received is called a:
receipt.
check.
invoice.
memorandum.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A _________ is used as a source document when there is no other source document for a transaction.
memorandum
receipt
check
calculator tape

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When journalizing transactions in the Cash Receipts Journal you need ____________ as your source document.
memorandum
check
sales invoice
receipt

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