Accounting Review Chapters 1-5
Authored by Amy Barnes
Life Skills
9th - 12th Grade
Used 6+ times
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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A drawing account is decreased by debits and increased by credits.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A list of accounts used by a business is a chart of accounts.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a business pays for insurance, Prepaid Insurance is
Increased by a debit
increased by a credit
decreased by a debit
decreased by a credit
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An endorsement restricting further transfer of a check's ownership.
restrictive endorsement
special endorsement
blank endorsement
cryptic endorsement
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A check that a bank refuses to pay.
dishonored check
electronic funds transfer
endorsed check
none of these
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A report of deposits, withdrawals, and bank balances sent to a depositor by a bank.
bank statement
debit card
electronic funds transfer
postdated check
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A report of deposits, withdrawals, and bank balances sent to a depositor by a bank.
bank statement
debit card
electronic funds transfer
postdated check
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