ACCT. 2 CHAPTER 17 QUIZ
Quiz by Teresa
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25 questions
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- Q1Is a special journal for recording sales of merchandise on account.Sales journal30s
- Q2Is a separate ledger that contains all accounts for all creditors.Accounts payable subsidiary ledger30s
- Q3Is an account in the general ledger that controls the accounts receivable subsidiary ledger.Accounts receivable30s
- Q4Special journal used for recording all cash received by the business.Cash receipts journal30s
- Q5Account in the General ledger that controls the accounts payable subsidiary ledger.Accounts payable30s
- Q6Is an all purpose journal used for recording transactions that do not fit into a special journal.General journal30s
- Q7The process of determining whether the amount of cash recorded in the accounting records of the business agrees with the amount recorded in its checkbook.Proving cash30s
- Q8A special journal used for recording all cash paid out of the business.Cash payments journal30s
- Q9Is a separate ledger that contains all charge customer accounts.Accounts receivable subsidiary ledger30s
- Q10Is a special journal used for recording all purchases of assets on account.Purchases journal30s
- Q11Is a list of all creditors in the accounts payable subsidiary ledger, the balance of each account, and the total owed to all creditors.Schedule of accounts payable30s
- Q12Is an account in the general ledger that acts as a control on the accuracy of the accounts in the subsidiary ledger.Controlling account30s
- Q13The purchases of merchandise on account are recorded in the accounts payable credit column and the purchases debit column of the purchases journal.True30s
- Q14Purchases of items for cash are recorded in the purchases journalFalse30s
- Q15The general Debit Column of the purchase journal is used to record purchases of all items on account other than merchandise on account.True30s