Chapter 15 Bookkeeping Quiz

Chapter 15 Bookkeeping Quiz

12th Grade

15 Qs

quiz-placeholder

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Chapter 15 Bookkeeping Quiz

Chapter 15 Bookkeeping Quiz

Assessment

Quiz

Business

12th Grade

Practice Problem

Medium

Created by

Glynis Palmisano

Used 1+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the term "Debits" refer to in accounting?

Decreases in assets

Increases in assets

Monies owed for business expenditures

Original investment money

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the Accounts Receivable (A/R) ledger?

Shows amounts paid out for expenses

Consists of all patients' accounts showing amounts owed

Contains records of salaries and wages

Records daily office transactions

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the Accounts Payable (A/P) ledger show?

Amounts owed by patients

Amounts paid out for expenses

Salaries and wages

Original investment money

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do Payroll Records indicate?

Fees for services rendered

Salaries and wages paid and deductions made

Monies available for office expenses

Amounts paid out for expenses

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does Capital refer to in accounting?

Monies owed for business expenditures

Original investment money and other property owned

Amounts paid out for expenses

Salaries and wages

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Pegboard Accounting?

An accounting system using a computer

A system where transactions are entered once

A method for recording daily office transactions

A bookkeeping system where equal debits and credits are recorded

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does ROA stand for?

Received on account

Return on assets

Rate of accrual

Record of accounts

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