Accounting Progress assessment

A business ordering a bank to pay cash from a bank account is called a __ __ __ __

check, checks, are, prenumbered

Objective evidence of a payment by check is a __ __ __ __ __ __ __

Check, Stub, Dollar amount, To a payee, Account Balance, (Balance Brought forward and Balance carried forward), Amount Deposited, For what money was spent for

A business form ordering a bank to pay cash from a bank account is called a __ __ __ __

Check, checks, are, prenumbered

Objective evidence of a payment by check is a __ __ Characteristics: __ __ to a __ Account __ ( Balance __ __ and Balance __ __) Amount __ For what money was __ __

Check, stub, Dollar, amount, payee, balance, brought, forward, carried, forward, Deposited, spent, for

Purpose of Receipts and Calculator Tapes Receipts __ __ __ __ Calculator Tape (Terminal Summary) __ __ __ __

Deals with receiving cash, Issued for a payment received from sources other than sales-Accounts Rec, Prenumbered, Receipt does not need to be generated from a sale, Deals with receiving cash, Is printed from a calculator or cash register terminal as proof of cash sales, Not prenumbered. The company assigns a Number (T10-T for Tape 10 for day of month), Calculator tape is only generated from a sale

Purpose of Sales Invoice and Calculator Tapes Sales invoice __ __ __ Calculator Tape (Terminal Summary) __ __ __

Deals with sakes, Is used for recording a sale on account, Prenumbered, Deals with sales, Is used for cash sales, Not Prenumbered. The company assigns a number (T10-T for Tape, 10 for day of month)

A form on which a brief message is written to describe a transaction is called a __ Are Used when: There is no other __ __ available based upon the __ given An __ __ is needed about a __ A __ __ is needed a __ is __ __ __

Memorandum, source, documents, transaction, additional, explanation, transaction, correcting, entry, purchase, made, on, account

A business form giving written acknowledgement for cash received is called a __ __ __ __ __

Receipt, Amount of Money Received, Receipt No, Who the money is received from, What the money was received for

A business form giving written acknowledgement for cash received is called a __ characteristics: amount of __ received __ no. __ the money is __ __ __ the money is __ __

Receipt, money, receipt, who, received, from, what, received, for

Advantages of Pre Number Documents: __ __ __ __

Requires that all documents are accounted for, can identify missing documents, can easily track down referenced source documents, Reduces the likelihood of unauthorized transactions

An invoice used as a source document for recording a sale on account is called a __ __ characteristics: __ shows it originated from __ __ __ to a __ __ of __ __ of services __

Sales invoice, Heading, our, business, sold, customer, terms, sale, description, provided

An invoice used as a source document for recording a sale on account is called a __ __ __ __ __ __

Sales, Invoice, Heading shows it originated from out business, Sold to Customer, Terms of sale, Description of Services provided

Receipt: Deals with __ Is used for __ a __ __ __ __ Calculator Tape (Terminal Summary): Deals with __ Is used for __ __ Not __ The __ assigns a __ (T10-T for __ 10 for __ __ __)

Sales, Recording, sale, account, Prenumbered, Sales, Cash Sales, Prenumbered, Company, number, Tape, day, of, month

A business paper from which information is obtained for a journal entry is called a __ __ __ Examples:__

Source Document, Provides objective evidence of the accounting transaction, Can be used to verify accuracy of the entry and locate errors Receipt Memorandum Terminal Summary Check Sales Invoice

A form on which a brief message is written to describe a transaction is called a __ __ __ __ __

There is no other source document available based upon the transaction given, An additional Explanation is needed about a Transaction, A correcting entry is needed, A purchase is made on account

Advantages of Pre Number Documents: Requires that all __ are __ for Can identify __ __ Can easily track down __ __ __ Reduces the __ of __ __

documents, accounted, missing, documents, referenced, source, documents, likelihood, unauthorized transactions

Receipt: Deals with __ __ issued for a __ received from __ other than __- __ __ __ Receipt does not need to be __ from a __ Calculator tape (Terminal Summary): Deals with __ __ Is printed from a __ or __ __ __ as proof of __ __ Not __ The __ assigns a __ (T10-T for __ 10 for __ __ __) Calculator tape is only __ from a __

receiving, cash, payment, sources, sales, Accounts, rec, Prenumbered, generated, sale, Receiving cash, calculator, cash, register, terminal, cash, sales, prenumbered, company, number, Tape, day of month, generated, sale

A business paper from which information is obtained for a journal entry is called a __ __ provides __ __ of the__ __ can be used to verify __ of the entry and locate __ Examples: __ __ __ __ __

source, document, objective, evidence, accounting, transaction accuracy, errors, Receipt, Memorandum, Terminal Summary, Check, Sales invoice