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1. Chapter 5

   Review Game
2. Voided Checks should be recorded in the journal
3. A form showing proof of a petty cash payment Petty Cash slip
4. An endorsement of the back of a check consisting of only a signature is None of the above An incorrect endorsement A special endorsement A restrictive endorsement A blank endorsement
5. The petty cash fund is a liability with a normal credit balance
6. A lost check with a blank endorsement on it can be cashed by None of the above Only your legal guardian Only the person who endorses the check Only the person whose name follows the words “Pay to the order of” Anyone who has the check
7. An endorsement restricting further transfer of a check’s ownership Restrictive endorsement
8. If any kind of error is made when preparing a check None of the above A new check should be prepared VOID should be written on the check VOID should be written on the check stub All of the above
9. Ownership of a check cannot be transferred
10. A statement that guides the ethical behavior of a company and its employees Code of Conduct
11. How many types of endorsements are there? What are they called? 3 Blank endorsement Special Endorsement Restrictive Endorsement
12. A petty cash fund is always replenished None of the above In the middle of the month Weekly Daily At the end of the month
13. A bank card that automatically deducts the amount of the purchase from the checking account Debit Card
14. The source document for a debit card purchase is a memorandum
15. A check the bank refuses to pay Dishonored Check
16. The source document for an electronic funds transfer(EFT) is a memorandum
17. The entry to establish a $200 petty cash fund is None of the above Debit Misc. Expense, $200; Credit cash, $200 Debit Petty cash, $200; credit Misc. Expense, $200 Debit Cash, $200;Credit petty cash, $200 Debit petty cash, $200;credit cash, $200
18. The bank statement shows a checking account balance of $4,000. There are outstanding checks totaling $300, an outstanding deposit of $400, and a bank service charge of $15.00. The cash account balance should be None of the above $3,300 $4,715 $4,085 $4,100
19. A report of deposits, withdrawals, and bank balances sent to a depositor by a bank Bank Statement
20. When petty cash is replenished, petty cash is debited and cash is credited
21. The bank statement shows a checking account balance of $4,500. There are outstanding checks totaling $500, an outstanding deposit of $600, and a bank service charge of $15.00. The cash account balance should be None of the above $5,600 $4,485 4,500 $4,600
22. A computerized cash payment system that transfers funds without the use of checks, currency, or other paper documents Electronic funds transfer(EFT)
23. A bank account from which payments can be ordered by a depositor Checking Account
24. An outstanding check is one that has been issued but not yet reported on a bank statement by the bank

25. TIE BREAKER QUESTIONS

    THESE ARE FROM ANY OF THE 3 PREVIOUS CHAPTERS
26. When cash is received on account, the amount is recorded in the E. None of the above A. General Debit, Cash Credit C. Sales Credit, Cash Debit B.A/R Debit, Cash Credit D. Cash Debit, General Credit
27. How many amount columns are there? What are the names? 5 General Debit, General Credit, Sales Credit, Cash Debit, Cash Credit
28. Information for each transaction recorded in a journal Entry
29. Organized summaries of a business’s financial activities All of the above Sale on Account Account Balance Accounting System Accounting Records