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Accounting - Ch10

Authored by jen laity

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11th Grade - University

Used 4+ times

Accounting - Ch10
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33 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount a business receives from the sale of an item of merchandise.

selling price

list price

markup

profit

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount a business adds to the cost of merchandise to arrive at the selling price.

markup

sales discount

sales tax

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A subsidiary ledger containing all accounts for charge customers.

accounts receivable ledger

accounts payable ledger

purchases ledger

cash payments ledger

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A tax on a sale of merchandise or services.

sales tax

purchases tax

county tax

state tax

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A special journal used to record only sales of merchandise on account.

sales journal

purchases journal

cash receipts journal

cash payments journal

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A sale in which the customer pays for the total amount of the sale at the time of the transaction.

cash sale

charge sale

terminal summary

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A specialized computer used to collect, store, and report all the information about a sales transaction.

point-of-sale (POS) terminal

discount terminal

terminal summary

batching out

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