Accounting PT Review

A business form ordering a bank to pay cash from a bank account is a ____.

• deposit slip

• check

• signature card

• none of the above

A signature or stamp on the back of a check transferring ownership is ____.

• an endorsement

• a deposit slip

• a signature card

• none of the above

A lost check with a blank endorsement on it can be cashed by ____.

• only the person who endorsed the check

• only the person whose name follows the words "Pay to the order of"

• no one

• anyone who has the check

An endorsement on the back of a check consisting only of a signature is ____.

• a special endorsement

• a blank endorsement

• an incorrect endorsement

• a restrictive endorsement

If a check is endorsed on the back with the words "For deposit only," the check can be cashed by ____.

• the person whose name follows "Pay to the order of"

• no one--it must be deposited

• anyone who has the check

• only the person who signed the check

If any kind of error is made in preparing a check, ____.

• VOID should be written on the check

• a new check should be prepared

• VOID should be written on the check stub

• all of the above

The source document for journalizing a bank service charge is a ____.

• memorandum

• receipt

• check

• none of the above

The source document for journalizing an electronic funds transfer is a ____.

• memorandum

• receipt

• check

• none of the above

The entry to establish a $200.00 petty cash fund is ____.

• debit Cash, $200.00; credit Petty Cash, $200.00

• debit Petty Cash, $200.00; credit Miscellaneous Expense, $200.00

• debit Petty Cash, $200.00; credit Cash, $200.00

• debit Miscellaneous Expense, $200.00; credit Cash, $200.00

A form showing proof of a petty cash payment is a ____.

• journal

• petty cash check stub

• check

• petty cash slip