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WorksheetsAccounting I - Chapter 3 - Journalizing
Total questions: 24
Worksheet time: 12mins
Name
Class
Date
1.
The source document for all cash payments is a check.
a)
TRUE
b)
FALSE
2.
A receipt is the source document for cash received from transactions other than sales.
a)
TRUE
b)
FALSE
3.
The accounting concept Unit of Measurement is being applied when a source document is prepared for each transaction.
a)
TRUE
b)
FALSE
4.
The source document used when supplies are bought on account is a memorandum.
a)
TRUE
b)
FALSE
5.
A general journal page is complete when there is insufficient space to record any more entries.
a)
TRUE
b)
FALSE
6.
To correct an error in a journal, one can simply erase the incorrect item and write the correct item.
a)
TRUE
b)
FALSE
7.
A transaction recorded in a journal is not considered a permanent record.
a)
TRUE
b)
FALSE
8.
Transactions are recorded in a journal in chronological order.
a)
TRUE
b)
FALSE
9.
A complete journal entry consists of the date, the debit amount, the credit amount, and a source document.
a)
TRUE
b)
FALSE
10.
When an entry in an amount column is an even dollar amount, either “00” or “--” can be entered in the cents column.
a)
TRUE
b)
FALSE
11.
The Objective Evidence concept requires proof that a transaction did occur.
a)
TRUE
b)
FALSE
12.
A calculator tape is the source document for daily cash sales.
a)
TRUE
b)
FALSE
13.
Every business uses the same journal to record transactions.
a)
TRUE
b)
FALSE
14.
In double-entry accounting, each transaction affects at least two accounts.
a)
TRUE
b)
FALSE
15.
Information for each transaction recorded in a journal.
a)
CHECK
b)
SALES INVOICE
c)
ENTRY
d)
SOURCE DOCUMENT
16.
Recording transactions in a journal.
a)
JOURNALIZING
b)
SALES INVOICE
c)
RECEIPT
d)
CHECK
17.
A form on which a brief message is written to describe a transaction.
a)
CHECK
b)
MEMORANDUM
c)
RECEIPT
d)
JOURNAL
18.
A business form ordering a bank to pay cash from a bank account.
a)
RECEIPT
b)
JOURNAL
c)
MEMORANDUM
d)
CHECK
19.
A business paper from which information is obtained fora journal entry.
a)
SOURCE DOCUMENT
b)
JOURNAL
c)
ACCOUNTANT
d)
SALES INVOICE
20.
A form for recording transactions in chronological order.
a)
JOURNALIZING
b)
JOURNAL
c)
INVOICE
d)
SOURCE DOCUMENT
21.
An invoice used as a source document for recording a sale on account.
a)
INVOICE
b)
SALES INVOICE
c)
MEMORANDUM
d)
JOURNAL
22.
A business form giving written acknowledgement for cash received.
a)
INVOICE
b)
ENTRY
c)
RECEIPT
d)
MEMORANDUM
23.
The recording of debit and credit parts of a transaction.
a)
ACCOUNTING
b)
ENTRY
c)
DOUBLE ENTRY ACCOUNTING
d)
SOURCE DOCUMENT
24.
A form describing the goods or services sold, the quantity, the price, and the terms of sale.
a)
INVOICE
b)
JOURNAL
c)
SALES INVOICE
d)
CHECK
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