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- 1. Multiple ChoiceIn accounting, money is referred to ascashchecksaccounts receivableanything of value
- 2. Multiple ChoiceA business form ordering a bank to pay cash from a bank account is known as a(n)formatcash transfercheckpromissory note
- 3. Multiple ChoiceA bank account from which payments can be ordered by a depositor is called astatementchecking accountsaving's accountdespoistor's account
- 4. Multiple ChoiceCash receipts are journalizedat the end of the monthat the end of the weekwhen the bank deposit is madeat the time cash is received
- 5. Multiple ChoiceNo journalized entry is needed for deposits.truefalse
- 6. Multiple ChoiceWhen you sign only your name to the back of a check it is known as a(n)blank endorsementspecial endorsementrestrictive endorsementnone of these.
- 7. Multiple ChoiceOwnership of a check can be transfered only once.truefalse
- 8. Multiple ChoiceA check with a future date on it is called afutures checkpostdated checkcancelled checkvoided check
- 9. Multiple ChoiceA report of deposits, withdrawals, and bank balances sent to a depositor by a bank.deposit slipincome statementbalance sheetbank statement
- 10. Multiple ChoiceAn outstanding check is one that has been issued but not yet reported on a bank statement.TrueFalse
- 11. Multiple ChoiceA check dishonored by the bank because of insufficient funds in the account of the maker of the check.dishonored checknon-sufficient funds checkvoided checkpostdated check
- 12. Multiple ChoiceUsing a memorandum as the source document for a dishonored check is an application of the accounting concept Objective Evidence.TrueFalse
- 13. Multiple ChoiceThe source document for a debit card purchase is a purchase invoice.TrueFalse
- 14. Multiple ChoiceVoided checks should be recorded in the journal.TrueFalse
- 15. Multiple ChoiceAn endorsement on the back of a check indicating that the check is to be accepted for deposit only is ablank endorsementspecial endorsementrestrictive endorsementdeposit endorsement
- 16. Multiple ChoiceThe entry to establish a $200.00 petty cash fund isdebit Petty Cash, $200.00; credit Miscellaneous Expense, $200.00debit Cash, $200.00; credit Petty Cash, $200.00debit Miscellaneous Expense, $200.00; credit Cash, $200.00debit Petty Cash, $200.00; credit Cash, $200.00
- 17. Multiple ChoiceA petty cash fund is always replenisheddailyweeklyat the end of the monthnone of these
- 18. Multiple ChoiceIf any kind of error is made in preparing a check,VOID should be written on the check.VOID should be written on the check stuba new check should be preparedall of the above
- 19. Multiple ChoiceAn amount of cash kept on hand and used for making small payments.checking accountquick cashpetty cashpitty cash
- 20. Multiple ChoiceA computerized cash payments system that transfers funds without the use of checks, currency, or other paper documents.endorsementEFTchecking accountdebit card transaction
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