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True or False
Quiz
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Business
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1st Grade - University
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Practice Problem
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Medium
Rosalia Flores
Used 9+ times
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Enhance your content in a minute
5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Official Receipts,sales invoice, and billing statements are example of source documents.
True
False
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A compound journal entry is a journal that has one debit account and one credit account.
True
False
Answer explanation
Single Journal entry
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Journal- is referred to as the “book of original entry”.
True
False
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Posting is the process of recording of financial information into the journal .
True
False
Answer explanation
Journalizing
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Journal contains dates,account name, debit and credit.
True
False
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