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Accounting: Chapter 9 & 10 Review

Authored by Ann Kramer

Business

9th - 12th Grade

Used 9+ times

Accounting: Chapter 9 & 10 Review
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20 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What are the two activities of a merchandising business?

Purchasing and using services

Purchasing and selling goods

Making and selling goods

Offering and selling services

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A corporation is formed by applying to a state government.

True

False

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

An accounts payable ledger form has

a debit balance column

no balance column

a credit balance column

both a debit and credit column

4.

FILL IN THE BLANK QUESTION

45 sec • 1 pt

Classify the account Purchases

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

How would a purchase of merchandise on account be journalized?

Debit - Purchases; Credit - Accounts Payable/Vendor

Debit - Purchases; Credit - Accounts Receivable/Customer

Debit - Accounts Payable/Vendor

Credit - Purchases

Debit - Accounts Receivable/Customer; Credit - Purchases

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A purchase of merchandise for cash would be posted

individually to Purchases and Accounts Payable

individually to Purchases

as part of a column total to Purchases

as part of column totals to Purchases and Accounts Payable

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Supplies bought for use in a business are recorded in the

Supplies Expense account

Purchases account

Supplies account

Cash account

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