
Acct Ch 11
Authored by Stephen Leclair
Business
10th - 12th Grade
Used 5+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Transactions that cannot be recorded in a special journal are recorded in a general journal.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A general journal entry posted to Accounts Payable will also be posted to a subsidiary ledger account.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Credit allowed for part of the purchase price of merchandise that is not returned results in an increase in the customer’s account.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A debit memorandum prepared by a customer results in the customer recording a debit to the vendor account.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An entry recorded in a general journal will either increase all accounts or decrease all accounts affected by the entry.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The normal account balance of Purchases Returns and Allowances is a debit.
True
False
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An entry in the general journal that affects Accounts Payable also affects a vendor’s account in the accounts payable ledger.
True
False
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