Accounting Cycle & Source Docs Quiz

What is the primary activity in Step 2 of the accounting cycle?

• Journalizing transactions

• Analyzing transactions

• Collecting documents

• Preparing a trial balance

At what step in the accounting cycle do you journalize each transaction?

• Step 1

• Step 2

• Step 3

• Step 4

Which of the following is commonly used as a source document?

• Invoice

• Budget report

• Employee handbook

• Marketing plan

____ is an accounting period of ANY twelve months.

• Fiscal Year

• Calendar Year

• Annual Report

• General Journal

Which document is used to keep a record of checks written?

• Invoice

• Receipt

• Memorandum

• Check stub

Which of the following is a source document that serves as a record of cash received?

• Invoice

• Receipt

• Memorandum

• Check stub

Which is a brief written message that describes a transaction that

takes place within a business?

• Invoice

• Receipt

• Memorandum

• Check stub

Which of the following is NOT a commonly used source document in accounting?

• Invoice

• Receipt

• Memorandum

• Ledger