Chapter 5 Test

Chapter 5 Test

20 Qs

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Chapter 5 Test

Chapter 5 Test

Assessment

Quiz

others

Practice Problem

Easy

Created by

Kaitlyn Crump

Used 5+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

An outstanding check is one that has been issued but not yet reported on a bank statement.

True
False

2.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

When petty cash is replenished, Petty Cash is debited and Cash is credited.

True
False

3.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Voided checks should be recorded in the journal.

True
False

4.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

The source document for an electronic funds transfer and debit card purchase is a memorandum.

True
False

5.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

The petty cash fund is a liability with a normal debit balance.

True
False

6.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

If any kind of error is made in preparing a check,

a new check should be prepared
VOID should be written on the check
VOID should be written on the check stub
all of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Each time cash or checks are placed in a bank account, the customer prepares a

deposit slip
none of these
signature card
check

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