Accounting Chapter 3 - Missed Questions

Examples of source documents include checks, sales invoices, memorandums, and letters.

• True

• False

A form describing the goods or services sold, the quantity, and the price.

• Check

• Receipt

• Invoice

• Memorandum

Receiving cash from sales increases one account and decreases another.

• True

• False

A business form giving written acknowledgement for cash RECEIVED.

• General Journal

• Memorandum

• Sales Invoice

• Receipt

A business paper from which information is obtained for a journal entry.

• Double-Entry Accounting

• General Journal

• Journal

• Source Document

A receipt is the source document for cash received from transactions other than sales.

• True

• False

The source document used when supplies are bought on account is a memorandum.

• True

• False

The day of the month is written on each journal page only for the first entry.

• True

• False

A form on which a brief message is written describing a transaction.

• Memorandum

• Double-Entry Accounting

• Entry

• Check

A form for recording transactions in chronological order.

• Journal

• Check

• Receipt

• Source Document