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WorksheetsAccounting Chapter 10
Total questions: 20
Worksheet time: 7mins
Name
Class
Date
1.
The amount a business receives from the sale of an item of merchandise
a)
Markup
b)
Accounts Receivable
c)
Selling price
2.
The amount a business adds to the cost of merchandise to establish the selling price.
a)
Markup
b)
Markdown
c)
Purchases
d)
Accounts Receivable
3.
A subsidiary ledger containing all accounts for charge customers
a)
A/P Ledger
b)
General Ledger
c)
A/R Ledger
d)
Chart of Accounts
4.
A tax on the sale of merchandise or services
a)
Credit
b)
Sales tax
c)
Sales discount
d)
Debit
5.
A special journal used to record only sales of merchandise on account
a)
Purchases
b)
Cash Payments
c)
Sales
d)
General
6.
A sale in which the customer pays for the total amount of the sale at the time of the transaction
a)
Debit Card Sale
b)
Checking account
c)
Accounts Receivable
d)
Cash Sale
7.
A special computer used to collect, store, and report all information about a sales transaction
a)
Cash register
b)
Calculator
c)
Point of Sale Terminal
d)
Bus Terminal
8.
The report the summarizes the cash and credit card sales of a point of sale terminal
a)
Terminal Summary
b)
Terminal Illness
c)
POS Summary
d)
Batch Report
9.
A report of credit card sales produced by a point of sale terminal
a)
Batching Out
b)
Batch Summary
c)
Batch Report
d)
Batch of Cookies
10.
The process of preparing a batch report from a point of sale terminal
a)
Deposit
b)
Batching Out
c)
Batching Report
d)
Terminal Batch
11.
A special journal used only to record cash receipts transactions
a)
Sales
b)
Purchases
c)
Cash Payments
d)
Cash Receipts
12.
A cash discount on a sale taken by the customer
a)
Trade Discount
b)
Cash Sale
c)
Sales Discount
d)
Sales Return
13.
The total of the A/R Subsidiary Ledger matches:
a)
Accounts Payable
b)
Accounts Receivable
c)
A/P Sub
d)
N/A
14.
The source document for the sales journal is:
a)
Check
b)
Purchase invoice
c)
Terminal Summary
d)
Sales Invoice
15.
For the transaction "Sold services on account", the account NOT needed below is
a)
Cash
b)
Sales Tax Payable
c)
Accounts Receivable
d)
Sales
16.
Posting to customer accounts from the sales and cash receipts journal goes in
a)
The General Ledger
b)
Not Posted
c)
A/R Sub
d)
A/P Sub
17.
The cash receipts journal has all of the following columns EXCEPT
a)
Cash
b)
Purchases Discount
c)
General Credit
d)
Sales
18.
The cash receipts journal will use the following pair of source documents
a)
P & S
b)
C & TS
c)
TS & R
d)
M & R
19.
A customer will always take a sales discount when offered?
a)
True
b)
False
20.
All of the amounts below are necessary to prove cash EXCEPT
a)
Total Cash Receipts
b)
Beginning Cash
c)
Total Cash Payments
d)
Total Deposits
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