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5 Written questions

5 Matching questions

  1. Sale on account
  2. posting
  3. Journal
  4. electronic funds transfer
  5. Trial balance
  1. a a computerized cash payments system that transfers funds without the use of checks, currency, or other paper documents
  2. b a proof of the equality of debits and credits in a general ledger
  3. c transferring information from a journal entry to a ledger account
  4. d A form for recording transactions in chronological order
  5. e a sale for which cash will be received at a later date

5 Multiple choice questions

  1. a form showing proof of a petty cash payment
  2. The number assigned to an account
  3. group of accounts
  4. a check that a bank refuses to pay
  5. a journal entry made to correct an error in the ledger

5 True/False questions

  1. Chart of accountA bank account from which payments can be ordered by a depositor


  2. Owner's equityA columnar accounting form used to summarize the general ledger information needed to prepare financial statements


  3. Account TitleThe number assigned to an account


  4. restrictive endorsementA business paper from which information is obtained for a journal entry


  5. Expensea decrease in owner's equity resulting from the operation of a business