Chapter 2 - Accounting Information System

Chapter 2 - Accounting Information System

Assessment

Quiz

Created by

Sook Theng Fong

Business

9th - 12th Grade

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8 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

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