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5 Written Questions

5 Matching Questions

  1. The amount of taxes to withheld is based on
  2. Fiscal year
  3. Trial balance
  4. Controls
  5. Invoice
  1. a A method of checking the accuracy of accounts.
  2. b Total earnings of the employee
    Number of withholding allowances claimed
    Marital status of the employee
    Length of the pay period involved
  3. c A standard of comparison to make sure answers obtained are accurate.
  4. d A paper describing a purchase and the amount due.
  5. e An accounting period of 12 months during which a company determines earnings and profit; the fiscal year does not neccessarily begin in January; the business determines the beginnging of its fiscal year.

5 Multiple Choice Questions

  1. IRS
  2. The recording of business and accounting transactions.
  3. provides information about the amounts owed to the physician.
  4. is a record where transactions are entered.
  5. The Wage and Tax Statement. Employer is required to furnish two copies to each employee from whom income tax or Social Security tax has been withheld.

5 True/False Questions

  1. Disbursement journalis a record that is used to make payments.

          

  2. Annual ReturnsForm W-2 and Form W-3

          

  3. Accrual basis of accountingsingle-entry system, double-entry system, and pegboard (write-it-once) system

          

  4. EquitiesThings that are owed; debts.

          

  5. Common summary reports includeStatement of income and expense, cash flow statement, trial balance, accounts receivable balance and aging analysis, balance sheet.

          

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