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Accounting Basics Trivia Quiz

Test your knowledge of accounting concepts with this trivia quiz! Determine if statements are true or false and identify key vocabulary terms. Challenge yourself with Jeopardy-style final question.

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Accounting Basics Trivia Quiz

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  1. Hosted by Ms. Appel

  2. Final True/False 1 True/False 2 Vocabulary Anything Goes 100 100 100 100 200 200 200 200 300 300 300 300 400 400 400 400 500 500 500 500

  3. Row 1, Col 1 What is False? The source document for all cash payments is a sales invoice

  4. Row 1, Col 2 What is True? A receipt is the source document for cash received from transactions other than sales.

  5. Row 1, Col 3 What is a Journal? A form for recording transactions in chronological order.

  6. Row 1, Col 4 What is add or subtotal? A single line ruled across the journal’s amount columns indicates this.

  7. Row 2, Col 1 What is False? A transaction recorded in a journal is not considered a permanent record.

  8. Row 2, Col 2 What is True? A calculator tape is the source document for daily cash sales.

  9. Row 2, Col 3 What is General Amount Column? Daily Double A journal amount column that is not headed with an account Title

  10. Row 2, Col 4 What is General Debit and Cash Credit? When Cash is paid for utilities, the amount is recorded in which columns of a Journal

  11. Row 3, Col 1 What is True? The Objective Evidence accounting concept requires that there be proof that a transaction did occur.

  12. Row 3, Col 2 What is False? The day of the month is written on each journal page only for the first entry.

  13. Row 3, Col 3 What is a Memorandum or Memo? A form on which a brief message is written describing a transaction.

  14. Row 3, Col 4 What is Cash Debit and Sales Credit? Daily Double When services are sold for cash, which columns of a journal are affected.

  15. Row 4, Col 1 What is True? Double lines are ruled across a journal’s amount columns to indicate that the totals have been verified as correct.

  16. Row 4, Col 2 What is True? Cash is always proved at the end of the month.

  17. Row 4, Col 3 What is Special Amount Column? A journal amount column headed with an account title.

  18. Row 4, Col 4 What is Cash Debit, General Credit? When cash is received on account, the amounts are recorded in these journal columns

  19. Row 5, Col 1 What is True? Transactions are recorded in a journal in chronological order

  20. Row 5, Col 2 What is False? A complete entry consists of the date, the debit amount, and the credit amount

  21. Row 5, Col 3 What is a Receipt? A business form giving written acknowledgement for cash received.

  22. Row 5, Col 4 What is an Entry? Information for each transaction recorded in a journal is called this.

  23. Cash on hand at beginning is 0, cash debits are $14,425.00, cash credits are $7,455.00, general debits are $3,000; the balance on last unused check stub is $6,970.00 – show proof of cash Final Jeopardy

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