Mors 200 Arts Final - Accounting Compend- Matching Part 2

Recording information in a ledger:a) Ledgerb) Balance Sheetc) Postingd) Journale) Profit and Loss Statements

A book of accounts:a) Ledgerb) Balance Sheetc) Postingd) Journale) Profit and Loss Statements

Book in which the fitst formal double entry record of transactions is made:a) Ledgerb) Balance Sheetc) Postingd) Journale) Profit and Loss Statements

A statement of assets, liabilities, and proprietorship at a specific date:a) Ledgerb) Balance Sheetc) Postingd) Journale) Profit and Loss Statements

A summary of the results of operations for a specified period of time:a) Ledgerb) Balance Sheetc) Postingd) Journale) Profit and Loss Statements

Used to record paying cash for an item:a) Purchases Journalb) Sales Journalc) Cash Receipt Journald) Cash Payment Journale) General Journal

For recording the buying of an article on credit:a) Purchases Journalb) Sales Journalc) Cash Receipt Journald) Cash Payment Journale) General Journal

For receiving cash from merchandise:a) Purchases Journalb) Sales Journalc) Cash Receipt Journald) Cash Payment Journale) General Journal

Used to record selling of merchandise on credit:a) Purchases Journalb) Sales Journalc) Sales Receipt Journald) Cash Payment Journale) General Journal

Used for miscellaneous entries:a) Purchases Journalb) Sales Journalc) Sales Receipt Journald) Cash Payment Journale) General Journal

To be used over a long period of time:a) Tangible Assetsb) Intangible Assetsc) Cash Assetsd) Current Assetse) Fixed Assets

To be used relatively soon:a) Tangible Assetsb) Intangible Assetsc) Cash Assetsd) Current Assetse) Fixed Assets

Capable of being touched:a) Tangible Assetsb) Intangible Assetsc) Cash Assetsd) Current Assetse) Fixed Assets

Not physical or material:a) Tangible Assetsb) Intangible Assetsc) Cash Assetsd) Current Assetse) Fixed Assets

Money:a) Tangible Assetsb) Intangible Assetsc) Cash Assetsd) Current Assetse) Fixed Assets

Check returned to the depositor that has been paid by the bank:a) Check Stubb) Drawerc) Payeed) Cancellede) Outstanding

A source of information for the journal:a) Check Stubb) Drawerc) Payeed) Cancellede) Outstanding

The one to whom the bank is ordered to pay the cash:a) Check Stubb) Drawerc) Payeed) Cancellede) Outstanding

A check that has been issued, but not yet presented for payment:a) Check Stubb) Drawerc) Payeed) Cancellede) Outstanding

The one who orders the bank to pay money from his account:a) Check Stubb) Drawerc) Payeed) Cancellede) Outstanding

The time allowed for the payment of a sale:a) Fiscal periodb) Fiscal Yearc) Compound Entryd) Withdrawse) Terms

Assets taken out of the business by the owner for his personal use:a) Fiscal periodb) Fiscal Yearc) Compound Entryd) Withdrawse) Terms

The period for which an analysis of the operations for a business is made:a) Fiscal periodb) Fiscal Yearc) Compound Entryd) Withdrawse) Terms

A journal entry that contains two or more debits or two or more credits:a) Fiscal periodb) Fiscal Yearc) Compound Entryd) Withdrawse) Terms

An accounting year ending some other date than December 31st:a) Fiscal periodb) Fiscal Yearc) Compound Entryd) Withdrawse) Terms

Free on Board:a) CPAb) CODc) CIFd) CBDe) FOB

Collect before delivery:a) CPAb) CODc) CIFd) CBDe) FOB

Certified Public Accountant:a) CPAb) CODc) CIFd) CBDe) FOB

Cost Insurance and Freight:a) CPAb) CODc) CIFd) CBDe) FOB

Collect on Delivery:a) CPAb) CODc) CIFd) CBDe) FOB

Stockholders:a) Interestb) Mark-upc) Fixed Assetsd) Partnershipe) Corporation

Land, buildings, equipment:a) Interestb) Mark-upc) Fixed Assetsd) Partnershipe) Corporation

Amount added to cost of merchandise to determine the selling price:a) Interestb) Mark-upc) Fixed Assetsd) Partnershipe) Corporation

A business owned by two or more individuals with profits or losses jointly shared:a) Interestb) Mark-upc) Fixed Assetsd) Partnershipe) Corporation

Money paid for the use of money:a) Interestb) Mark-upc) Fixed Assetsd) Partnershipe) Corporation

A special book in which payments made by check are recorded:a) Book Valueb) Invoicec) Check Registerd) Certified Checke) Cashier's Check

A check drawn by a bank on it's own funds and signed by the cashier:a) Book Valueb) Invoicec) Check Registerd) Certified Checke) Cashier's Check

A check which carries the guarantee of the drawee that sufficient funds are available to pay the check when it is properly presented:a) Book Valueb) Invoicec) Check Registerd) Certified Checke) Cashier's Check

Cost of a fixed asset less accumulated depreciation:a) Book Valueb) Invoicec) Check Registerd) Certified Checke) Cashier's Check

A paper showing quantity, description, prices of items, total amount of purchases and the terms of payment:a) Book Valueb) Invoicec) Check Registerd) Certified Checke) Cashier's Check

A payment:a) Restrictive Endorsementb) Blank Endorsementc) Endorsement in Fulld) Deferrede) Disbursement

To delay unti a later date:a) Restrictive Endorsementb) Blank Endorsementc) Endorsement in Fulld) Deferrede) Disbursement

Consists merely of the signature of the endorser on the back of a check:a) Restrictive Endorsementb) Blank Endorsementc) Endorsement in Fulld) Deferrede) Disbursement

Endorsement which uses the phrase, "Pay to the Order of":a) Restrictive Endorsementb) Blank Endorsementc) Endorsement in Fulld) Deferrede) Disbursement

Endorsement which uses the phrase, "For Deposit Only":a) Restrictive Endorsementb) Blank Endorsementc) Endorsement in Fulld) Deferrede) Disbursement

The comparison of current assets with current liabilities:a) Acid Test Ratiob) Inventory Turnoverc) Long Lived Asset Ratiod) Current Asset Ratioe) Total Asset Ratio

The comparison of the fixed assets with the fixed liabilities:a) Acid Test Ratiob) Inventory Turnoverc) Long Lived Asset Ratiod) Current Asset Ratioe) Total Asset Ratio

Comparison of cash and all the other current assets that are readily recognizable in cash with the other current liabilities:a) Acid Test Ratiob) Inventory Turnoverc) Long Lived Asset Ratiod) Current Asset Ratioe) Total Asset Ratio

Comparison or total assets with total liabilities:a) Acid Test Ratiob) Inventory Turnoverc) Long Lived Asset Ratiod) Current Asset Ratioe) Total Asset Ratio

Determined by dividing the cost of goods by the average inventory:a) Acid Test Ratiob) Inventory Turnoverc) Long Lived Asset Ratiod) Current Asset Ratioe) Total Asset Ratio