_______ Theory: only business activities that can be expressed in monetary terms are recorded in the business' books.

Chapter 2 - Accounting Information System

Quiz
•
Business
•
9th - 12th Grade
•
Medium
Sook Theng Fong
Used 2+ times
FREE Resource
8 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Monetary
Money
Cash
Monies
2.
FILL IN THE BLANK QUESTION
1 min • 1 pt
____ transactions: payment is made at the same time or immediately during sales or purchase.
3.
FILL IN THE BLANK QUESTION
1 min • 1 pt
_____ transactions: payment is delayed or postponed during a sale or purchase.
4.
FILL IN THE BLANK QUESTION
1 min • 1 pt
______ theory: Accounting information recorded must be supported by reliable and verifiable evidence so that financial statements will be free from opinions and biases.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This document is used to acknowledge payment received from customers immediately after the business has sold goods or provided services
Invoice
Receipt
Credit Note
Debit Note
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This document is used to inform credit customers of the amount owed after the business sold goods or provided services on credit.
Invoice
Receipt
Credit Note
Debit Note
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This document is used to reduce the amount owed by credit customers who were previously overcharged / after goods were returned.
Invoice
Receipt
Credit Note
Debit Note
8.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This document is used to increase the amount owed by credit customers who were previously undercharged.
Invoice
Receipt
Credit Note
Debit Note
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