accounting test true false chapt 3
a business form ordering a bank to pay cash from a bank account
check
the recording of debit and credit parts of a transaction
double-entry accounting
information for each transaction recorded in a journal
entry
A complete entry consists of the date, the debit amount, and the credit amount.
false
A transaction recorded in a journal is not considered a permanent record.
false
The day of the month is written on each journal page only for the first entry.
false
The source document for all cash payments is a sales invoice.
false
To correct an error in a journal, simply erase the incorrect item and write the correct item.
false
the journal amount column that is not headed with an account title
general amount column
a form for recording transactions in chronological order
journal
recorded transactions in a journal
journalizing
a form on which a brief message is written describing a transaction
memorandum
determining that the amount of cash agrees with the accounting records
proving cash
a business form giving written acknowledgement for cash recieved
reciept
an invoice used as a source document for recording a sale on account
sales invoice
a form of describing the goods or services sold, the quantity, and the price
source document
a journal amount column that is not headed with an account title
special amount column
A calculator tape is the source document for daily sales.
true
A receipt is the source document for cash received from transactions other than sales.
true
Cash is always proved at the end of a month.
true
Double lines are ruled across a journal's amount columns to indicate that the totals have been verified as correct.
true
The Objective Evidence accounting concept requires that there be proof that a transaction did occur.
true
The journal columns used to record paying cash for rent are General Debit and Cash Credit.
true
The journal columns used to record receiving cash from sales are Cash Debit and Sales
true
The source document for cash payment transactions is a check.
true
The source document used when supplies are bought on account is a memorandum.
true
The year and the month are written only once on a journal page.
true
Transactions are recorded in a journal in chronological order.
true