Chapter 5- Accounting

Chapter 5- Accounting

12th Grade

20 Qs

quiz-placeholder

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Chapter 5- Accounting

Chapter 5- Accounting

Assessment

Quiz

Other

12th Grade

Practice Problem

Medium

Created by

Jennifer Drey

Used 140+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Ownership of a check cannot be transferred.

True
False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Voided checks should be recorded in the journal.

True
False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Using a memo as the source doc for a dishonored check is Objective Evidence concept

True
False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The petty cash fund is a liability with a normal debit balance.

True
False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When petty cash is replenished, Petty Cash is debited and cash credited.

True
False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The source doc for a debit card purchase is a memorandum.

True
False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The source doc for an electronic funds transfer is a check.

True
False

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