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5 Written Questions

5 Matching Questions

  1. Petty cash fund
  2. Common summary reports include
  3. Equities
  4. Disbursement journals must show
  5. Cash flow statement
  1. a A fund maintained to pay small, unpredictable cash expenditures.
  2. b Statement of income and expense, cash flow statement, trial balance, accounts receivable balance and aging analysis, balance sheet.
  3. c - Every amount paid out.
    - Date and check number.
    - Purpose of the payment.
  4. d The monetary value of a property or of an interest in a property in excess of claims or leins against it.
  5. e A financial summary for a specific period that shows the beginning balance on hand, the receipts and disbursements during the period, and the balance on hand at the end of the period.

5 Multiple Choice Questions

  1. 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.
  2. Auto expenses, dues and meetings, equipment, insurance, medical supplies, office expenses, printing, postage and, stationary, rent and maintenance, salaries, taxes and licenses, travel and entertainment, utilities, miscellaneous, personal withdrawals.
  3. Declaration of Estimated Tax for Individuals
  4. single-entry system, double-entry system, and pegboard (write-it-once) system
  5. A request for payment.

5 True/False Questions

  1. Before the end of the first pay period, the employee should complete aA summary of all income and expenses for a given period.

          

  2. Balance sheetA request for payment.

          

  3. Kinds of Financial recordsForm W-2 and Form W-3

          

  4. ControlsA standard of comparison to make sure answers obtained are accurate.

          

  5. Cash basis of accountingMethod of accounting in which income is recorded when earned and expenses are recorded when incurred.

          

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