
Accounting Chapter 5
Authored by Tamra Davis
11th - 12th Grade
Used 21+ times

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47 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In accounting, money is usually referred to as cash.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Most businesses make major payments with cash.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Ownership of a check cannot be transferred.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a bank does not receive payment from the person who signed the check, each endorser of the check is individually liable for payment.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Blank endorsements should be used when sending checks through the mail.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Voided checks should be recorded in the journal.
True
False
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a bank statement is received, the depositor should verify its accuracy immediately.
True
False
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