Transaction/Vocabulary/Concept Review

Transaction/Vocabulary/Concept Review

9th - 12th Grade

20 Qs

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Transaction/Vocabulary/Concept Review

Transaction/Vocabulary/Concept Review

Assessment

Quiz

Business

9th - 12th Grade

Medium

Created by

Ann Kramer

Used 3+ times

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20 questions

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1.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Recording transactions in a journal is called __.

2.

FILL IN THE BLANK QUESTION

1 min • 1 pt

The accounting concept ___ is applied when a source document is prepared for each transaction.

3.

FILL IN THE BLANK QUESTION

1 min • 1 pt

What account is debited when cash is received from the owner as an investment?

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

When a business's financial information is recorded and reported separately from the owner's personal information the accounting concept __ is being applied.

5.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Classify the account Prepaid Insurance.

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Your business, Frying Nemo, paid back part of the money it owed to Bread Pitt. What account would be debited?

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Classify the account Sales.

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