Accounting Terminology Quiz
Authored by TRAVIS PAULSEN
Business
12th Grade
Used 4+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of a journal?
To record debit and credit parts of a transaction
To order a bank to pay cash from a bank account
To describe the goods or services sold
To give written acknowledgement for cash received
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of journalizing?
Recording transactions in a journal
Recording information for each transaction in a journal
Recording a brief message to describe a transaction
Recording a sale on account
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a source document?
A business paper from which information is obtained for a journal entry
A form for recording transactions in chronological order
A form giving written acknowledgement for cash received
A form describing the goods or services sold
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of an invoice?
To describe the goods or services sold, the quantity, the price, and the terms of sale
To record debit and credit parts of a transaction
To order a bank to pay cash from a bank account
To give written acknowledgement for cash received
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of a sales invoice?
To serve as a source document for recording a sale on account
To record debit and credit parts of a transaction
To order a bank to pay cash from a bank account
To give written acknowledgement for cash received
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of a receipt?
To give written acknowledgement for cash received
To record debit and credit parts of a transaction
To describe the goods or services sold, the quantity, the price, and the terms of sale
To serve as a source document for recording a sale on account
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of a check?
To order a bank to pay cash from a bank account
To record debit and credit parts of a transaction
To describe the goods or services sold, the quantity, the price, and the terms of sale
To give written acknowledgement for cash received
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