Accountic Basic NOCTI Sample Questions (Set 2)

Accountic Basic NOCTI Sample Questions (Set 2)

9th Grade - University

15 Qs

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Accountic Basic NOCTI Sample Questions (Set 2)

Accountic Basic NOCTI Sample Questions (Set 2)

Assessment

Quiz

Other

9th Grade - University

Practice Problem

Hard

Used 89+ times

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15 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A direct deposit made to an employee's checking or savings account is also known as a/an

ATM
FICA
EIN
EFT (electronic funds transfer)

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Checks that are paid by the bank and then removed from the depositor's account are called ________ checks.

cashier's
cancelled checks
refund
outstanding

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A company had $3,000 in credit card sales during the day. The company charged a 3 percent discount rate on credit card deposits. The entry to record the credit card sales is

debit cash $2,910; debit credit card expense $90; credit sales $3,000
debit Cash $2,910; and credit Sales $2,910
debit Cash $3,000; and credit Sales $2,910; credit Credit Card Expense $90
debit Cash $3,000; and credit Sales $3,000

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A check is a/an

a certificate documenting the shareholder's ownership in the corporation
document signed by a borrower promissing to repay a loan
official document prepared by the carrier duly accepting the goods for shipment
signed statement ordering a bank to pay cash from funds deposited in that bank

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

An endorsed check must have an authorized ________ on the back of the check.

embossment
thumb print
signature
bank stamp

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A bank statement reconciliation is

a statement that specifies the amount and account the funds are being deposited into.
a summary of all financial transactions occuring over a period of time on an account
a summary of the financial balances of a company
an account audit used to bring information on a bank statement and a checkbook into agreement

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A purchase of a computer with cash

is a shift in assets
increases a liability
decreases an asset
increases an asset

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