Accounting and Bookkeeping Quiz

Bookkeeping is primarily concerned with __________.

• recording financial transactions

• advertising products

• storing raw materials

• recording sales transactions

Accounting differs from bookkeeping because it __________.

• ignores data analysis

• is done by traders

• includes interpretation of financial records

• involves only cash

The person who prepares accounts for a business is called a(n) __________.

• engineer

• doctor

• accountant

• lawyer

The primary aim of accounting is to __________.

• increase salaries

• make people rich

• provide financial information

• prevent theft

Bookkeeping is also known as the __________.

• final account

• business record

• art of recording

• income report

A source document is used to __________.

• record attendance

• write letters

• initiate accounting entries

• calculate depreciation

A cash receipt is issued when __________.

• goods are returned

• a refund is requested

• money is received

• a product is produced

Which of the following is a source document?

• Journal

• Ledger

• Invoice

• Balance sheet

A credit note is issued when __________.

• goods are under-supplied

• goods are returned

• cash is received

• payment is made

A document used to request goods is a(n) __________.

• debit note

• order form

• receipt

• journal