Journalizing Transactions

Journalizing Transactions

University

10 Qs

quiz-placeholder

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Journalizing Transactions

Journalizing Transactions

Assessment

Quiz

Life Skills

University

Medium

Created by

Sabrina Crockett-Srinivasa

Used 134+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is an example of a source document?

Check

Invoice

Memorandum

All the above

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The recording of debit and credit parts of a transaction is called:

journal

double-entry accounting

journalizing

preparing journal entries

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is NOT considered the four parts of journal entry?

Credit

Debit

Date

Account Title

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

In what order are transactions recorded in a journal?

Alphabetical

Chronological

By Date

According to the source document

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Why are source documents important?

to verify the accuracy of a specific journal entry.

to make sure no one is stealing.

it is not important, no need for one.

to make sure the wrong items were not ordered.

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which journal columns are used to record paying cash for insurance?

General Credit; Cash Debit

General Debit; Cash Debit

General Debit; Cash Credit

General Credit; Cash Credit

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which journal columns are used to record receiving cash from sales?

General Debit; Cash Credit

Cash Credit; Sales Debit

General Credit; Cash Debit

Cash Debit; Sales Credit

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