Accounting Ch 3-4

Accounting Ch 3-4

9th Grade - University

20 Qs

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Accounting Ch 3-4

Accounting Ch 3-4

Assessment

Quiz

Business

9th Grade - University

Practice Problem

Medium

Created by

Jackie Jackson

Used 21+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The recording of debit and credit parts of a transaction is called

accounting

double entry accounting

T charts

extra work

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is the standard source document for cash paid out by the company?

Invoice

Check

Memorandum

Receipt

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In what order are transactions recorded in a journal?

By date

Alphabetically

In the same order as they appear in financial statements

According to cash impact

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When journalizing the transaction cash received from owner as an investment, which 2 accounts are impacted and in which order are they recorded?

Owner Drawing, Cash

Owner Capital, Cash

Cash, Owner Drawing

Cash, Owner Capital

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A form describing the goods or services sold, the quantity, the price and the terms of sale

Receipt

Calculator tape

Invoice

Memorandum

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When journalizing a transaction in which cash is paid for insurance, which account appears second?

Accounts Payable

Cash

Accounts Receivable

Prepaid insurance

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When do you start a new journal page?

New year

New month

When there are no lines left

When there is insufficient space to record any more entries

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