Accounting Chapter 4

Quiz
•
Business
•
10th - 12th Grade
•
Hard

Megan DeLena
Used 21+ times
FREE Resource
24 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A journal shows in one place all the changes to a single account.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Account numbers may be assigned by 10s so that new accounts can be easily added.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The procedure of arranging accounts in a general ledger, assigning account numbers, and keeping records is called posting.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a business has only two asset accounts, Cash and Supplies, the two accounts are numbered 110 and 120.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a new account is located between accounts numbered 510 and 520, the new account number should be 515.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A journal page number is written in the Post. Ref. column of an account to show that posting of the entry is completed.
True
False
7.
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
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