NOCTI Accounting Review

NOCTI Accounting Review

Assessment

Quiz

Business

10th - 12th Grade

Easy

Created by

Renee Lumsden

Used 3+ times

FREE Resource

Student preview

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A _________ is used to record the payroll information for each pay period.

bank statement

deposit slip

time card

payroll register

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This fund makes payments requiring a small amount of cash

payment fund

deposit fund

check fund

petty cash fund

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This is the safest form of endorsement

Blank

Special

Restrictive

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A form of business organization owned by investors or stockholders that has a separate legal existence from its owners

partnership

corporation

sole proprietorship

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The original deposit slip

accompanies the money to the bank

stays with the company's records

is mailed to the bank after the deposit is made

remains in the ledger

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What accounting form identifies a net loss or net gain?

balance sheet

statement of owner's equity

trial balance

income statement

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

When making T accounts for payroll, Salaries Expense is

debited

credited

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