
Chapter 5 Test Review
Authored by Leigh Budd
Mathematics
9th - 12th Grade
Used 2+ times

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27 questions
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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
Voided checks should be recorded in the journal.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When petty cash is replenished, Petty Cash is debited and Cash is credited.
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
VOID should be written on the check
VOID should be written on the check stub
a new check should be prepared
All of the above
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When cash is short, the entry to replenish petty cash includes a
debit to Cash Short and Over
credit to Cash Short and Over
debit to Petty Cash
credit to Miscellaneous Expense
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