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Accounting Chapter 4

Authored by Michelle Henley

10th - 12th Grade

Used 87+ times

Accounting Chapter 4
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30 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All corrections for posting errors should be made in a way that leaves no question as to the correct amount.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Errors discovered after an entry is posted may be corrected by ruling through the item.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When adding a new expense account between accounts numbered 510 and 520, the new account is assigned the account number 515.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A check mark in the Post. Ref. column of the journal indicates that the amounts on that line are not posted individually.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The account number is placed in the Post. Ref. column of the journal as the last step in the posting procedure.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

With the exception of the total lines, the Post. Ref. column of the journal is completely filled in with either an account number or a check mark.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The posting reference should always be recorded in the journal's Post. Ref. column before amounts are recorded in the ledger.

True

False

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