Accounting Ch. 6

Accounting Ch. 6

12th Grade

10 Qs

quiz-placeholder

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Accounting Ch. 6

Accounting Ch. 6

Assessment

Quiz

Business

12th Grade

Practice Problem

Easy

Created by

Wanda Dami

Used 3+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False?

A fiscal year is an accounting period that always begins on Jan 1 and ends on Dec. 31.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the first step in the accounting cycle?

Collect source documents

Post to the Ledger

Prepare a worksheet

Analyze each transaction

Ledger

3.

FILL IN THE BLANK QUESTION

1 min • 1 pt

A receipt is used as a source document for what kind of tranaction?

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are four types of source documents?

Journalize, journal, ledger, T accounts

Memorandum, ledger, Receipts, Cash

Memorandum, invoice, check stub, reciept

Journal, fiscal year, calendar year, Memo

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is another name for the journal?

Book of Original Entry

Book of last entry

Book of Ledgers

Book of Groveton

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False? We always use dollar signs and commas in accounting.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False? If you make an error on the General Journal, you must erase it and begin again.

True

False

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