Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
Accounting Chapter 9
Test Description: Chapter 9 review game questions.
Instructions: Answer all questions to get your test result.
1) The purchases account is classified as
A
an asset account.
B
an expense account.
C
a cost account.
D
a liability account.
2) Purchases returns and allowances
A
decrease the amount of purchases.
B
do not affect the amount of purchases.
C
increase the amount of purchases.
D
affect the cash flow of a business.
3) The terms 2/10, n/30 is read as
A
"two terms, net thirty"
B
"two tenths, n thirds"
C
"two tens, n over thirty"
D
"two ten, net thirty"
4) A trade discount is
A
a deduction from the invoice amount.
B
the amount the customer is expected to pay.
C
a reduction in the list price granted to customers.
D
a discount for paying early.
5) Since contra accounts are offsets to their related accounts, contra accounts normal balances are
A
the same as the normal balances of their related accounts.
B
credits.
C
debits.
D
opposite the normal balances of their related accounts.
6) What account is used to help reconcile a petty cash account?
A
Cash Short and Over
B
Cash.
C
Purchases.
D
Misc. Expenses.
7) If merchandise is purchased for $1000 on July 1, with terms of 2/10, n/30, what is the amount due on July 9th?
A
$1000
B
$20
C
$200
D
$980
8) The source document for a cash purchase is
A
a memorandum.
B
a receipt.
C
a check.
D
an invoice.
9) Supplies bought for use in a business are recorded in the
A
purchases account.
B
supplies expense account.
C
supplies account.
D
cash account.
10) The balance of Cash Short and Over
A
is a debit.
B
can be either a debit or a credit.
C
is a credit.
D
is contra to the cash account.
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?