
Accounting 1 Review
Computers, Professional Development, Other, Fun
9th - 12th Grade

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What source document is used for a daily cash sale?
Memorandum
Calculator Tape
Receipt
Sales Invoice
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
"Purchased something on account" is the definition of what source document?
Memorandum
Checks
Sales Invoice
Receipts
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
James received cash from the owner as an investment. What two accounts are effected?
Cash/Sales
Cash/Capital
Capital/Sales
Accounts Payable/Cash
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Stephany paid cash for supplies. What is the normal balance for supplies?
Debit
Credit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Dennis bought supplies on account to Target Co. What is the normal balance for Target Co. after it has been journalized?
Credit
Debit
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The transaction, "Sold services on account", will affect both sales and...
Capital
Sales
Accounts Receivable
Accounts Payable
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True or False - if you paid cash to the owner for personal use, Cash and Drawing are your accounts affected.
False
True
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