stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Acct I Chapter 4 Flashcards | StudBud
Explore
/
Acct I Chapter 4
Acct I Chapter 4
40 terms
·
StudBud Administration
·
115 plays
#accounting #cte #businesseducation
Flashcards
40 cards
F
Practice quiz
P
Host live
L
Questions
40
Answers
1
A chart of account should include what two items at the top
name of business & chart of accounts
name of business & accounts you might use
chart of accounts & the date
Name of business & table of contents
2
The first step in the posting procedure is writing the
journal page in the post ref column of the account
enter amount in the debit or credit column
none of these
entry date in the Date column of the account
3
The normal balance of Accounts Payable
credit
revenue
OE
debit
4
A ledger that contains all accounts needed to prepare financial statetments
general ledger
ledger
file maintener
account titles
5
The flower for November is
Lily
Pointsettia
Rose
Chrysanthemum
6
The gemstone for November is
Pearl
Topaz
Ruby
Opal
7
An account number in the journal's Post Ref column shows
that work on that journal page is completed
none of these
the date of entry
the account to which an amount is posted
8
Transferring information from a journal entry to a ledger account
numbering
correcting
ledgering
posting
9
A group of accounts
posting
account group
ledger
correcting entry
10
A list of accounts used by a business
ledger
general ledger
account titles
chart of accounts
11
When accounts are arranged in a general ledger, assigned numbers, and kept up to date this is
doing file maintenance
posting
cleaning house
organizing
12
Mrs.Lynch's favorite November activity
watching NFL football
planning out Christmas decorations
eating pumpkin and pumpkin spice things
staying inside
13
When posting only the totals are put into the ledger for
cash credit columns
none of these
general account columns
special account columns
14
If all separate amounts on a journal line are recorded in special amount columns,
all amounts are posted indivdually
all of these
neither amount is posted individually
only one of the amounts is posted individually
15
A journal entry made to correct an error in a previous journal entry
debit
credit
correcting entry
post
16
Arranging accounts in the general ledger , assigning account numbers, keeping records current
file maintenance
correcting
posting
opening an account
17
If posting is interrupted, the accounting personnel know to resume posting
at the beginning of page 2
the next day
on the line with a blank Post Ref column in the journal
wherever they ledger was left
18
When posting each transaction is recorded individually for
general account columns
sales credit columns
none of these
special amount columns
19
Account numbers may be assigned by ___________ as long as they allow room for new accounts
units of 10 only
units of 5 only
the supreme accounting master general
any numbering system
20
A business paper from which info is obtained for a journal entry
sales invoice
receipt
source document
working paper
21
A form for recording transactions in chronological order
journal
memo
source document
entry sheet
22
To add a new account between 510 Advertising Exp and 520 Delivery Exp, what's the new account #
515
519
511
512
23
The normal balance of cash
sales
revenue
credit
debit
24
Separate amounts in the Sales Credit column of a journal are
not posted; only totals are posted
posted frequently
rounded to the nearest dollar
posted invidually
25
Totals should have a check mark in the post. ref. column
false
maybe
only on Fridays
true
26
The column total of general debit is posted
sure, but only if it's a Tuesday
maybe
true
false
27
To ensure you've posted the totals for special amount columns you need to add
check marks under the totals
none of these
place stars over the totals
ledger numbers under the totals
28
The most popular way to cook a turkey is
deep-frying
in a plastic bag
crock pot
roasting in the oven
29
Only the column totals for ____________ columns in a journal are posted
special amounts
general debit
general credit
none of these
30
The side of a t-account that is increased
normal balance
credit side
misc side
debit side
31
To open a general ledger account you should
add the account title and account number to the ledger
say "abra-ca-dabra"
add the account number and sales title to the ledger
add the account title to the ledger
32
The first digit in the account number 120 means that the account is in the
revenue division of the general ledger
asset division of the general ledger
expense division of the general ledger
liability division of the general ledger
33
Typically, for small businesses charts of accounts are created with a __ digit numbering system
3
7
4
5
34
The normal balance of Accounts Recievable
sales
cash
debit
credit
35
Posting references in a journal are
the first item recorded when posting
always placed in an account's Post Ref column
always necessary
not necessary
36
The normal balance of sales
debit
cash
credit
revenue
37
The normal balance of Postage Expense
cash
sales
credit
debit
38
The number assigned to an account
ledger number
account number
title number
posting number
39
Writing an account title and number on the heading of an acccount
posting
ledgering
opening an account
correcting
40
Planning, recording, analyzing, and interpreting financial information
accounting
financial education
bookkeeping
financial planning
