Accounting chapter 6 true/false

A check was written on April 15th, it is being recorded today April 17t, the date used for recording the transaction is April 17th

False

A fiscal year is an accounting period that begins on January 1st to December 31st

False

The debit part of a business transaction should be intended one-half inch from left edge of paper

False

When recording a business transaction, the amount is always entered first because it is the most important part of the journal entry

False

A journal is sometimes called a "book" of original entry became it is the only place in which the details of the transactions are recorded

True

A source document is a business paper that proves a transaction occured

True

The accounting cycle is a series of activities a business completes over a period of time

True

The analysis of a business transaction into its debit and credit parts required for both Manuel and computerized accounting system

True

The different kinds of source documents a business uses depends on nature of transaction

True