Midterm Review: Question Preview (ID: 3655)


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The source document for a cash receipt transaction is a:
a) Check stub b) Memorandum c) Post-closing trial balance d) Receipt
Recording business transactions in a journal is called:
a) Analyzing transactions b) Balancing c) Journalizing d) Posting
A form on which a brief message is written describing a journal entry is called a/an:
a) Account b) Ledger c) Memorandum d) Opening entry
An account recorded in the left account column of the general journal is called a/an:
a) Credit b) Debit c) Liability d) Owner's Equity
A book or file containing a seperate page for each business account is called a/an:
a) General Ledger b) Income statement c) Journal d) Memorandum
In the transaction, PAID CASH FOR RENT, the source document is a/an:
a) Check stub b) Invoice c) Memorandum d) Receipt
In the transaction, PAID CASH FOR UTILITIES EXPENS, the source document is a/an:
a) Check Stub b) Invoice c) Memorandum d) Receipt
A business paper from which information is obtained for a journal entry is called a/an:
a) Account b) Balance sheet c) Memorandum d) Source document
The system of recording debit and credit parts of a transaction is known as:
a) Double-entry accounting b) Post-closing trial balance c) The accounting cycle d) The accounting equation
In the transaction, PAID CASH TO THE OWNER FOR PERSONAL USE, the source document is a/an:
a) cash register tape b) check stub c) memorandum d) receipt
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