
Transaction/Vocabulary/Concept Review
Authored by Ann Kramer
Business
9th - 12th Grade
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.
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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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