Credit transactions
Business
11th - 12th Grade
Used 85+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a transaction in which goods and services are provided now and paid later is a ....
cash transaction
credit transaction
illegal transaction
theft
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The source document for a credit transaction is ...
a receipt
a cheque
a memorandum
an invoice
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Customers that owe a business money are called
accounts payable
accounts receivable
assets
Liabilites
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Accounts payable are treated as ....
assets
liabilities
current assets
current liabilities
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Suppliers that a business owes money are called ...
accounts receivable
accounts payable
liabilites
assets
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Accounts receivable are treated as....
assets
liabilities
current assets
current liabilities
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Source documents are vital in ensuring....
relevance
verifiability
faithful representation
comparability
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