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5 Written questions

5 Matching questions

  1. Chart of account
  2. Asset
  3. sales invoice
  4. Work sheet
  5. t account
  1. a An accounting device used to analyze transactions
  2. b An invoice used as a source document for recording a sale on account
  3. c A list of accounts used by a business
  4. d A columnar accounting form used to summarize the general ledger information needed to prepare financial statements
  5. e Anything of value that is owned

5 Multiple choice questions

  1. a decrease in owner's equity resulting from the operation of a business
  2. an amount owed by a business
  3. length of time for which a business summarizes and reports financial information
  4. financial rights to the assets of a business
  5. A business form giving written acknowledgement for cash received.

5 True/False questions

  1. Revenuea decrease in owner's equity resulting from the operation of a business

          

  2. JournalA form for recording transactions in chronological order

          

  3. ledgerAn amount recorded on the right side

          

  4. Accounting systemPlanning, recording, analyzing, and interpreting financial information

          

  5. petty cash slipAn amount of cash kept on hand and used for making small payments