Understanding Financial Documents

Understanding Financial Documents

8th Grade

6 Qs

quiz-placeholder

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Understanding Financial Documents

Understanding Financial Documents

Assessment

Quiz

Business

8th Grade

Practice Problem

Medium

Created by

nwabisa godongwana

Used 4+ times

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6 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are receipts?

Source documents that prove money has been received

Documents that show the balance of a bank account

Invoices for services rendered

Statements of account activity

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What should a receipt specify?

The amount, name of the other person or business, and date

The account number and opening balance

The items purchased and their prices

The bank charges applied

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a deposit slip?

A document completed when depositing money

A record of bank charges

A statement of account activity

An invoice for services rendered

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does a bank statement contain?

All transactions that occurred in the bank account

Only the deposits made

Only the withdrawals made

The opening balance only

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a cash invoice used for?

When a business sells items or provides a service

To record bank transactions

To issue bank statements

To deposit money into a bank account

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an electronic funds transfer (EFT)?

The electronic transfer of money over an online network

A physical transfer of cash between banks

A method of issuing cash invoices

A type of bank statement

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