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Accounting 2nd 9-Weeks Part 2
Test Description: Accounting 2nd 9-Weeks Part 2
Instructions: Answer all questions to get your test result.
1) Paid to an employee as a percentage of the employee's sales
A
overtime pay
B
commission
C
salary
D
wage
2) Account used to record the total of the employer's payroll taxes
A
Federal Income Tax Payable
B
Salaries Expense
C
State Income Tax Payable
D
Payroll Tax Expense
3) Taxes paid by the employer to provide funds for workers who are temporarily out of work.
A
Federal Income Taxes
B
FICA
C
Unemployment Taxes
D
State Income Taxes
4) Used to record merchandise sold during the period
A
Purchases
B
Merchandise Inventory
C
Accounts Payable
D
Sales
5) A ___________ in the post reference column indicates the amount will be posted to two accounts.
A
Check Mark
B
Account Number
C
Question Mark
D
Diagonal Line
6) A business may allow its customers to return unsatisfactory merchandise for full credit or to keep the merchandise at a lesser price.
A
True
B
False
C
None of the Above
D
Don't Know
7) Business that sales to retailers
A
Wholesaler
B
Merchandise Business
C
Service Business
D
Retailer
8) Business that sales to the final user.
A
Service Business
B
Merchandise Business
C
Retailer
D
Wholesaler
9) A reduction in the sales price of an item that is given for prompt payment
A
Cash Discount
B
Sale
C
Purchase Discount
D
Sale Discount
10) Business that sales to retailers
A
Retailer
B
Service Business
C
Wholesaler
D
Merchandise Business
*select an answer for all questions
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