Accounting Chapter 5- Cash Control Systems
Authored by Matthew Bilinsky
Business
9th - 12th Grade
Used 12+ times
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45 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Because cash transactions occur more frequently than other transactions, there is more chance of making recording errors affecting cash. (p. 122)
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a deposit is made in a bank account, the bank issues a check. (p. 123)
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
There are three types of endorsements commonly used: blank, special, and restrictive. (p. 124)
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A check with a blank endorsement can be cashed by anyone who has possession of the check. (p. 124)
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When writing a check, the first step is to prepare the check. (p. 126)
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Most banks do not look at the date the check is written and will withdraw money form the depositor's account anytime. (p. 126)
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount of a check is written twice on each check.
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