Quiz Acct. Chapter 3 Century 21
Quiz by Teresa
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21 questions
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- Q1A form for recording transactions in chronological order is aJournal30s
- Q2Recording transactions in a journal is calledJournalizing30s
- Q3Information for each transaction recorded in a journal is calledEntry30s
- Q4The recording of debit and credit parts of a transaction. is calledDouble-entry accounting30s
- Q5A business paper from which information is obtained for a journal entry is calledSource document30s
- Q6A source document that provides proof of a cash payment is called aCheck30s
- Q7A form describing the goods or services sold, the quantity, and the price or a bill is calledInvoice30s
- Q8An invoice used as a source document for recording a sale on account is aSales invoice30s
- Q9A source document for cash received from transactions other that sales is calledReceipt30s
- Q10A form on which a brief message is written describing a transaction is calledMemorandum30s
- Q11The GAAP accounting concept that requires that a source document is prepared as proof that a transaction did occur is calledObjective Evidence30s
- Q12A general journal page is complete when there is insufficient space to record any moreentries30s
- Q13You need to draw a neat line through all parts of the incorrect entry and write the correct information aboveto correct an error in a journal30s
- Q14A transaction recorded in a journal is apermanent record30s
- Q15Transactions must be recorded in a journal in achronological order.30s