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5 Written Questions

5 Matching Questions

  1. t account
  2. general ledger
  3. Net loss
  4. Revenue
  5. Journal
  1. a A form for recording transactions in chronological order
  2. b an increase in owner's equity resulting from the operation of a business
  3. c The difference between total revenue and total expenses when total expenses are greater
  4. d A ledger that contains all accounts needed to prepare financial statements.
  5. e An accounting device used to analyze transactions

5 Multiple Choice Questions

  1. a journal entry made to correct an error in the ledger
  2. A business form ordering a bank to pay cash from a bank account
  3. a business owned by one person
  4. An invoice used as a source document for recording a sale on account
  5. The difference between total revenue and total expenses when total revenue is greater

5 True/False Questions

  1. Expensean increase in owner's equity resulting from the operation of a business

          

  2. dishonored checka check with a future date on it

          

  3. restrictive endorsementAn endorsement restricting further transfer of a check's ownership

          

  4. bank statementa report of deposits, withdrawals, and bank balances sent to a depositor by a bank

          

  5. Source DocumentA business paper from which information is obtained for a journal entry

          

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