Accounting Basics Quiz

What is a form describing the goods or services sold, the quantity, the price, and the terms of sale?

• Journal

• Memorandum

• Receipt

• Invoice

What is the term for information for each transaction recorded in a journal?

• Sales Invoice

• Source Document

• Journal Entry

• Memorandum

What is a form for recording transactions in chronological order?

• Memorandum

• Receipt

• Invoice

• Journal

What is the recording of debit and credit parts of a transaction called?

• Double-entry Accounting

• Journalizing

• Source Document

• Sales Invoice

What is an invoice used as a source document for recording a sale on account?

• Journal

• Sales Invoice

• Receipt

• Memorandum

What is the term for recording transactions in a journal?

• Invoicing

• Journalizing

• Receipt

• Memorandum

What is a business form ordering a bank to pay cash from a bank account?

• Check

• Journal

• Invoice

• Receipt

What is a business paper from which information is obtained for a journal entry?

• Memorandum

• Sales Invoice

• Source Document

• Journal

What is a form on which a brief message is written to describe a transaction?

• Invoice

• Memorandum

• Journal

• Receipt

What is a business form giving written acknowledgement for cash received?

• Memorandum

• Invoice

• Journal

• Receipt