Textbook 3-1

What is the term used for recording transactions in chronological order in a journal?

• Analyzing

• Journalizing

• Documenting

• Listing

What does the word 'journal' originate from?

• The Greek word 'journa'

• The Latin word 'diurnalis'

• The French word 'journee'

• The English word 'daily'

What does the Latin word 'diurnalis' mean?

• Weekly

• Monthly

• Daily

• Yearly

How often do most businesses conduct transactions and record them in their journals?

• Weekly

• Monthly

• Daily

• Yearly

What is the first step of the ethical model according to the 'Character Counts' section?

• Take immediate action

• Recognize you are facing an ethical dilemma

• Seek the advice of others

• Write down every possible action

How many amount columns does a multicolumn journal typically have according to the text?

• Three

• Four

• Five

• Six

What is the term used to describe the recording of debit and credit parts of a transaction in a journal?

• Single-entry accounting

• Double-entry accounting

• Triple-entry accounting

• Balanced-entry accounting

What is a source document?

Which accounting concept is applied when a source document is prepared for each transaction?

• Materiality

• Conservatism

• Objective Evidence

• Consistency

What is the purpose of having a special amount column in a journal?