Accounting, Semester 1 Final Review

a statement that guides the ethical behavior of a company and its employees

• code of conduct

• petty cash

• bank statement

• checking account

The total of amounts on the left side of the accounting equation must always be equal the total of amounts on the right side

• True

• False

In a T account, amounts recorded on the left side are called credits

• True

• False

an amount of cash kept on hand and used for making small purchases

• endorsement

• petty cash

• postdated check

• special endorsement

in accounting, money is referred to as

• checks

• cash

• accounts rec

Planning, recording, analyzing, and interpreting financial information is called

• organizing

• accounting

• profiting

• formatting

A business form ordering a bank to pay cash from a bank account is known as a(n)

• format

• cash transfer

• check

• promissory note

 A bank account from which payments can be ordered by a depositor is called a

• depositor's account

• statement

• saving account

• checking account

anything of value that is owned is called a(n)

• expense

• asset

• liability

• possession

 An endorsement is

• a signature on the back of a check transferring ownership.

• a stamp on the back of a check transferring ownership.

• confined to a limited amount of space that is indicated on the back of a check

• All of the answers are correct.