
Accounting ll - Chapter 11
Quiz
•
Business
•
9th - 12th Grade
•
Practice Problem
•
Hard
D. Franz
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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Credit allowed for part of the purchase price of merchandise that is not returned resulting in a decrease in Accounts Payable
Purchases Allowances
Purchases Return
Sales Allowances
Sales Return
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A form prepared by a vendor showing the amount deducted for returns and allowances
Debit Memorandum
Memorandum
Credit Memorandum
Receipt
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A group of persons elected by the stockholders to govern a corporation
Chief Executive Officer
Owners
Managers
Board of Directors
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Action by a board of directors to distribute corporate earnings to stockholders
withdrawing money
declaring a dividend
selling stock
reducing stockholders equity
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A journal with two amount columns in which all kinds of entries can be recorded
Purchases Journal
Sales Journal
General Journal
General Ledger
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Credit allowed for the purchase price of returned merchandise resulting in a decrease in Accts Pay
Purchases Allowance
Purchases Return
Sales Allowance
Sales Return
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Credit allowed to a customer for the sales price of returned merchandise resulting in a decrease to
Accounts. Rec.
Purchases Return
Purchases Allowance
Sales Return
Sales Allowance
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