Chapter 10: Accounting for Sales and Cash Receipts

Chapter 10: Accounting for Sales and Cash Receipts

9th - 12th Grade

15 Qs

quiz-placeholder

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Chapter 10: Accounting for Sales and Cash Receipts

Chapter 10: Accounting for Sales and Cash Receipts

Assessment

Quiz

Business

9th - 12th Grade

Practice Problem

Hard

Created by

Ann Kramer

Used 39+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Selling merchandise on account will be recorded in the

Sales Journal

Cash Receipts Journal

Cash Payment Journal

Purchases Journal

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When a transaction is recorded within the sales journal, which account is not affected?

Sales Tax Payable Account

Sales Account

Accounts Receivable Account

Cash Account

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the cash receipts journal used for?

Journalize the receipt of an accounts receivable

journalize the payment of an accounts payable

journalizing supplies expense

journalize the payment for insurance

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the controlling account for a company's customers?

Subsidiary ledger

General Ledger

Accounts Receivable

Markup Ledger

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

At the end of the month, which of the following will you complete first within the special journal?

Posting

Totaling

Proving

Ruling

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Within Accounting, POS refers to

Piece of Schedules

Point of Signal

Place of Sale

Point of Sale

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which journal is used to record cash and credit card sales?

Purchases Journal

Sales Journal

Cash Payment Journal

Cash Receipts Journal

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