Accounting ch 5 Review - Century 21

Accounting ch 5 Review - Century 21

9th - 12th Grade

40 Qs

quiz-placeholder

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Accounting ch 5 Review - Century 21

Accounting ch 5 Review - Century 21

Assessment

Quiz

Business

9th - 12th Grade

Practice Problem

Medium

Created by

Chelsey Gilmore

Used 14+ times

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40 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An outstanding check is one that has been issued but not yet reported on a bank statement.

True
False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When petty cash is replenished, Petty Cash is debited and Cash is credited.

True
False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Voided checks should be recorded in the journal.

True
False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

 The source document for an electronic funds transfer is a memorandum.

True
False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The petty cash fund is a liability with a normal debit balance.

True
False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

a. VOID should be written on the check.
b. VOID should be written on the check stub.
c. a new check should be prepared.
d. all of the above.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When cash is short, the entry to replenish petty cash includes a

a. debit to Cash Short and Over.
b. credit to Cash Short and Over.
c. debit to Petty Cash.
d. credit to Miscellaneous Expense.

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