Name: _____________________________ Grade: _____________ Date: _________________

Accounting Cycle-Worksheet

Instruction: Read each question carefully. Answer ALL questions.

1. True or false: Source documents are the first documents that exist relating to a transaction.
a) True
b) False

2. The first basic entry in the accounting system is completed during this phase of the accounting
cycle:
a) Source documents
b) T-accounts
c) Journals
d) The ledger
e) None of the above.

3. The ____________ is/are prepared as a final check before drawing up the financial statements.
a) Ledger
b) Journals
c) Source documents
d) Trial balance
e) None of the above.

4. Place The correct definition next to the correct terms, by using: a, b,c,d,e,f,g
Terms Definition
Sales daybook a) Record goods returned to suppliers
Cash book b) B. Contains list of items bought from
suppliers
Returns inwards c) Records less common transactions
daybook
Petty Cash book d) Records items that were sold
The journal e) Records bank & cash transactions
Purchases daybook f) A cash book used for making small
payments
Returns outward g) Lists returns made by customers
book