Tag the questions with any skills you have. Your dashboard will track each student's mastery of each skill.
Give this quiz to my class
Q 1/26
Score 0
A person or business to whom merchandise or services are sold
30
Customer
Q 2/26
Score 0
A tax on a sale of merchandise or services
30
Sales Tax
26 questions
Q.
A person or business to whom merchandise or services are sold
1
30 sec
Q.
A tax on a sale of merchandise or services
2
30 sec
Q.
A special journal used to record only sales of merchandise on account
3
30 sec
Q.
A sale in which cash is received for the total amount of the sale at the time of the transaction
4
30 sec
Q.
A sale in which a credit card is used for the total amount of the sale at the time of the transaction
5
30 sec
Q.
A computer used to collect, store, and report all the information of the sales transaction
6
30 sec
Q.
The report that summarizes the cash and credit card sales of a point-of sale terminal
7
30 sec
Q.
A report of credit card sales produced by a point-of-sale terminal
8
30 sec
Q.
The process of preparing a batch report of credit card sales from a point-of-sale terminal
9
30 sec
Q.
A special journal used to record only cash receipt transactions
10
30 sec
Q.
A cash discount on sales taken by a customer
11
30 sec
Q.
Credit allowed a customer for the sales of returned merchandise, resulting in a decrease in the vendor's account receivable
12
30 sec
Q.
Credit allowed a customer for part of the sales price of merchandise that is not returned, resulting in a decrease in the vendor's accounts receivable
13
30 sec
Q.
A form prepared by the vendor showing the amount deducted for returns and allowances
14
30 sec
Q.
From which column of the cash receipts journal are amounts posted individually to the accounts receivable ledger?
15
30 sec
Q.
What is another name for the schedule of accounts receivable?
16
30 sec
Q.
The two types of batch reports include the credit card sale or a summary of the number and ________.
17
30 sec
Q.
The Credit Term 2/10, n/30 refers to when a customer pays the amount owed within 10 days, the sales invoice amount is reduced by 2%. Otherwise ___________is due in 30 days.
18
30 sec
Q.
The accounts that are impacted by the posting of the special columns of a sales journal include Accounts Receivable as a debited, Sales as a credited and _________as a credit.
19
30 sec
Q.
The five steps for posting transactions to accounts receivable ledger forms include: Write the date;Write the sales journal page number in the Post. Ref. column of the ledger account;Enter the debit and credit amounts;Calculate and record the new account balance and:____________
20
30 sec
Q.
It is the amount added to the cost of merhcandise to set the selling price.
21
30 sec
Q.
What does the total of the accounts in the accounts receivable subsidiary ledger equals to?
22
30 sec
Q.
What column on a general ledger form is not on an accounts receivable ledger form?
23
30 sec
Q.
What is the title of the general ledger account used to summarize the total amount due from all charge customers?
24
30 sec
Q.
How are sales tax rates usually stated?
25
30 sec
Q.
Why is sales tax collected considered a liability?
