NEW
Font size
S
M
L
XL
WorksheetsAccounting 1 - Test 3
Total questions: 15
Worksheet time: 30mins
Name
Class
Date
1.
The source document for all cash payments is a sales invoice.
a)
True
b)
False
2.
A recipt is the source document for cash received from transactions other than sales.
a)
True
b)
False
3.
A calculator tape is the source document for daily sales.
a)
True
b)
False
4.
The source document used when supplies are bought on account is a memorandum.
a)
True
b)
False
5.
To correct an error in a journal, simply erase the incorrect item and write the correct item.
a)
True
b)
False
6.
To correct an error in a journal, 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 entry consists of the date, the debit amount, and the credit amount.
a)
True
b)
False
10.
The day of the month is written on each journal page only for the first entry.
a)
True
b)
False
11.
A receipt is the source document for cash received from transactions other than sales.
a)
True
b)
False
12.
Double lines are ruled across a journal's amount columns to indicate that the totals have been verified as correct.
a)
True
b)
False
13.
Cash is always proved at the end of a month.
a)
True
b)
False
14.
The Objective Evidence accounting concept requires that there be proof that a transaction did occur.
a)
True
b)
False
15.
Assets = Liabilities + Owner's Equity is the Accounting Equation.
a)
True
b)
False
Reset
