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Bookkeeping Part 1

Authored by Arielle Shane Lozano

English

2nd Grade

Used 1+ times

Bookkeeping Part 1
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18 questions

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1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

What is the purpose of invoice verification in an accounting system?

To track employee attendance
To calculate tax deductions
To schedule meetings
To verify that goods or services listed on the invoice were received or provided, and to ensure accuracy in prices and quantities.

2.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Which of the following documents is typically used for invoice verification?

Sales Order
Delivery Note
Bill of Lading
Purchase Order (PO)

3.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Where do you record Non-PO transactions such as electricity, water and rent expenses?

Invoice Verification

Purchase Journal Entry

Petty Cash Fund

Purchase Journal Adjustment

4.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

True or False: In bookkeeping module, you can create a purchase order and receive those items upon delivery.

True

False

5.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

True or False: You can still edit the transaction even if it was posted already.

True

False

6.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

These transactions are used when recording advance payment to supplier.

Purchase Order, Invoice Verification, Disbursement

Purchase Order, Purchase Journal Entry, Disbursement

Purchase Order, Purchase Journal Entry, Journal Entry

Purchase Order, Purchase Journal Entry, Purchase Request

7.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

This transaction is used to create an adjustment when posted IV or PJ is/are incorrect.

Journal Voucher Entry

Purchase Journal Adjustment

Sales Journal Entry

Receipt Journal Entry

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