WorksheetsAccounting Ch 3 Review
Total questions: 31
Worksheet time: 16mins
Name
Class
Date
1.
A form describing the goods or services sold, the quantity, the price, and the terms of the sale.
a)
Source Document
b)
Journal
c)
Check
d)
Invoice
2.
Information for each transaction recorded in a journal.
a)
Entry
b)
Double-Entry Acctg
c)
Source Document
d)
Memorandum
3.
A business form giving written acknowledgement for cash received.
a)
Sales invoice
b)
Receipt
c)
Source Document
d)
Check
4.
A form for recording transactions in chronological order.
a)
Entry
b)
Memorandum
c)
Journal
d)
Invoice
5.
Determining that the amount of cash agrees with the accounting records.
a)
Balance checkbook
b)
Journalizing
c)
Double-entry acctg
d)
Proving cash
6.
Recording transactions in a journal.
a)
Journalizing
b)
Recordkeeping
c)
Bookkeeping
d)
Objective Evidence
7.
A form on which a brief message is written to describe a transaction.
a)
Source Document
b)
Memorandum
c)
Journal
d)
Entry
8.
The recording of debit and credit parts of a transaction.
a)
Documenting
b)
Objective evidence
c)
Double-entry acctg
d)
Proving cash
9.
A business form ordering the bank to pay cash from a bank account.
a)
Memorandum
b)
Invoice
c)
Sales Invoice
d)
Check
10.
An invoice used as a source document for recording a sale on account.
a)
Sales invoice
b)
Check
c)
Memorandum
d)
Source Document
11.
A memorandum is the source document used when items are paid in cash.
a)
True
b)
False
12.
To prove a journal page, the total debit amounts are compared with the total credit amounts to be sure they are equal.
a)
True
b)
False
13.
Information in a journal includes the debit and credit parts of each transaction recorded in one place.
a)
True
b)
False
14.
A business paper from which information is obtained for a journal entry.
a)
Invoice
b)
Journal
c)
Source Document
d)
Proving Cash
15.
The source document used when supplies are bought on account is a check
a)
True
b)
False
16.
Double lines across column totals mean that the totals have been verified as correct.
a)
True
b)
False
17.
To correct an error in a journal, erase the incorrect item and write the correct item in the same place.
a)
True
b)
False
18.
In double-entry accounting, each transaction affects at least three accounts.
a)
True
b)
False
19.
A receipt is the source document for cash received from transactions other than sales.
a)
True
b)
False
20.
Bought supplies on account requires using two lines in a journal because no special amount columns are used.
a)
True
b)
False
21.
The journal columns used to record receiving cash from sales are Cash Debit and Sales Credit
a)
True
b)
False
22.
The source document for all cash payments is a sales invoice.
a)
True
b)
False
23.
The journal columns used to record paying cash for equipment rental are General Debit and Cash Credit.
a)
True
b)
False
24.
When a journal page is full, the full page should be proved before a new page is started.
a)
True
b)
False
25.
A calculator tape is the source document for daily sales.
a)
True
b)
False
26.
The source document "sales invoice" is abbreviated a "S" in a journal entry.
a)
True
b)
False
27.
The Objective Evidence accounting concept requires that there be proof that a transaction did occur.
a)
True
b)
False
28.
The journal columns used to record buying supplies on account are General Debit and Cash Credit.
a)
True
b)
False
29.
The journal columns used to record paying cash to the owner for a withdrawal of equity are Cash Debit and General Credit.
a)
True
b)
False
30.
The source document used when supplies are bought on account is a check.
a)
True
b)
False
31.
Examples of source documents include checks, sales invoices, receipts, and memorandums.
a)
True
b)
False
100 %
