Worksheets22-23 Unit 4 Vocabulary - Accounting 2
Total questions: 40
Worksheet time: 30mins
when the petty cash report balance is lower than the cash on hand
accounts payable
discount
cash over
cash short
When companies buy on credit, they increase their a_______ p______
(a)
money owed to a company’s vendors
accounts payable
allowances
cash over
cash payments journal
Harry’s Sneaker Emporium kept the shipment of sneakers that were the wrong color, but the vendor gave them an a (a) and they ended up paying a lot less for them.
when a customer agrees to keep defective or damaged merchandise but pays a lesser amount
cash over
allowances
cash short
petty cash
Alan’s cash count was higher than the petty cash report balance, so he was c___ o___
(a)
a journal used to record cash receipts
cash receipts journal
sales journal
purchases journal
petty cash
The accounts payable department wrote checks today and recorded the payments in a c___ p_______ j______
(a)
a journal used to record cash payments made by a company
returns journal
sales journal
cash receipts journal
cash payments journal
The accounts receivable department received 20 checks today and recorded the cash receipts into the c___ r_______ j______
(a)
when the petty cash report balance is higher than the cash on hand
cash short
cash over
cash balance
petty cash
Wally’s Bikes paid their invoice early and got a two percent d (a)
a way of recording items into an accounting book or ledger
cash receipts journal
purchase journal
entry
discount
Mary had $3 less in petty cash than the petty cash report balance, so she was c___ s____
(a)
goods and services brought in from other countries
imports
exports
domestic
internations
An e (a) recording the totals from the purchases journal was made to the ledger.
an amount or percentage that is deducted from the original price
cash short
discount
purchase
accounts payable
The purchases recorded in April were totaled and an entry was made to the l (a)
an accounting book used to record and consolidate all financial activity for the purpose of creating financial statements
ledger
petty cash report
sales journal
purchases journal
Tom posted the last delivery to the p________ j______
(a)
a spreadsheet or book where purchases made on credit are recorded
returns & allowances journal
cash receipts journal
purchase journal
sales journal
Colin posted the amount of petty cash he used to pay the postman in the p____ c___ r_____
(a)
when a buyer returns a product and the seller gives them their money back
discount
returns
cash short
cash over
Kelly’s Dress Shop processed three r (a) yesterday for dresses that had rips in them.
the record or journal where a company tracks petty cash usage
cash over
petty cash report
cash short
sales tax
The buyer paid his invoice early and received a s____ d_______ of 2% from the seller.
(a)
an offer made from the seller to the buyer to pay less for goods and services bought on credit in exchange for paying early
sales tax
petty cash
sales discount
sales return
Jessica posted the golf equipment she sold on credit to the sporting goods store in the s____ j______
(a)
an additional cost, imposed by the government, on the sale of goods and services
cash over
cash short
sales tax
sales discount
Because this was the first time our company exported goods to this customer in England, we asked for a l_____ o_ c_____ to reduce the risk of nonpayment.
(a)
a record of credit sales
petty cash report
returns & allowances journal
purchases journal
sales journal
Eric bought tennis balls from the sporting goods store and was surprised he had to pay s____ t__
(a)
sales made outside your country
national sales
international sales
sales journal
domestic
The toy factory made its first i (a) sale by selling its new collection of toy dolls to Canada.
an amount of cash a company keeps on hand to pay for small purchases
$15
pretty cash
petty cash
$5,000
Cars made in the United States and sold in Europe are U.S. e (a) .
a letter from a bank guaranteeing that the buyer will pay the seller when all conditions of the sale are met
finance letter
letter of credit
letter of terms
accounting letter
The shoes I bought were i (a) because they were made in England.
goods and services sent to another country for sale
petty cash
goods
imports
exports
Kim ordered a pizza to thank her two employees and paid the delivery guy with p____ c___.
(a)
