NAME: ________________________

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5 Written Questions

5 Matching Questions

  1. Ethics
  2. Normal balance
  3. memorandum
  4. dishonored check
  5. Transaction
  1. a The side of the account that is increased
  2. b A form on which a brief message is written describing a transaction
  3. c a check that a bank refuses to pay
  4. d a business activity that changes assets, liabilities, or owner's equity
  5. e the principles of right and wrong that guide an individual in making decision

5 Multiple Choice Questions

  1. A bank account from which payments can be ordered by a depositor
  2. financial reports that summarize the financial condition and operations of a business
  3. a journal with two amount columns in which all kinds of entries can be recorded
  4. changes recorded on a work sheet to update general ledger accounts at the end of a fiscal period
  5. assets taken out of a business for the owner's personal use

5 True/False Questions

  1. Code of conductA list of accounts used by a business

          

  2. Accounting equationa planned process for providing financial information that will be useful to management

          

  3. journalizingA form for recording transactions in chronological order

          

  4. Account TitlePlanning, recording, analyzing, and interpreting financial information

          

  5. CheckA business form ordering a bank to pay cash from a bank account

          

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