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3-1 Quiz Accounting

Total soal: 15

Worksheet time: 8mins

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1.

What is a journal?

a)

A form for recording transactions in chronological order

b)

A business paper from which information is obtained for a journal entry

c)

A business form giving written acknowledgement for cash received

2.

What is the process of recording transactions in a journal called?

a)

Journalizing

b)

Double-entry accounting

c)

Source document

3.

What is the purpose of double-entry accounting?

a)

To ensure accuracy in recording transactions

b)

To provide a chronological record of transactions

c)

To obtain information for a journal entry

4.

What is a source document?

a)

A business paper from which information is obtained for a journal entry

b)

A form ordering a bank to pay cash from a bank account

c)

A form describing the goods or services sold

5.

What is a check?

a)

A business form ordering a bank to pay cash from a bank account

b)

A form describing the goods or services sold

c)

A form used to record a sale on account

6.

What is an invoice?

a)

A form describing the goods or services sold, the quantity, the price, and the terms of sale

b)

A business form ordering a bank to pay cash from a bank account

c)

A form used to record a sale on account

7.

What is a sales invoice?

a)

An invoice used as a source document for recording a sale on account

b)

A form describing the goods or services sold, the quantity, the price, and the terms of sale

c)

A business form ordering a bank to pay cash from a bank account

8.

What is a receipt?

a)

A business form giving written acknowledgement for cash received

b)

A form describing the goods or services sold, the quantity, the price, and the terms of sale

c)

A form used to record a sale on account

9.

What is a memorandum?

a)

A form on which a brief message is written to describe a transaction

b)

A business form ordering a bank to pay cash from a bank account

c)

A form giving written acknowledgement for cash received

10.

What is the first step in journalizing a transaction?

a)

Write the date in the Date column

b)

Write the title of the account credited in the Account Title column

c)

Write the source document number in the Doc. No. column

11.

What is the second step in journalizing a transaction?

a)

Write the title of the account debited in the Account Title column

b)

Write the date in the Date column

c)

Write the title of the account credited in the Account Title column

12.

What is the third step in journalizing a transaction?

a)

Write the title of the account credited in the Account Title column

b)

Write the date in the Date column

c)

Write the source document number in the Doc. No. column

13.

What is the fourth step in journalizing a transaction?

a)

Write the source document number in the Doc. No. column

b)

Write the date in the Date column

c)

Write the title of the account debited in the Account Title column

14.

In what order are transactions recorded in a journal?

a)

By date

b)

By source document

c)

By account title

15.

Why are source documents important?

a)

Source documents are one way to verify the accuracy of a specific journal entry

b)

Source documents provide a chronological record of transactions

c)

Source documents describe the goods or services sold