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Chapter 6
ANSWER: d
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-2 - LO: 6-2
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - AK - ACBSP: Purpose
United States - AK - AICPA-FN: Reporting
KEYWORDS: Bloom's: Remembering
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 1/9/2017 1:44 AM
2. Which data are generally not included on a check?
a. Date of the check
b. Signature of the party writing the check
c. Address of the payee
d. Amount the bank is to pay the payee
e. Name of the bank on which the check was drawn
ANSWER: c
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-2 - LO: 6-2
NATIONAL STANDARDS: United States - AACSB: Reflective Thinking
STATE STANDARDS: United States - AK - ACBSP: Business Forms
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Remembering
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
ANSWER: e
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-2 - LO: 6-2
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - AK - ACBSP: Financial Statements
United States - AK - AICPA-FN: Reporting
KEYWORDS: Bloom's: Remembering
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 1/6/2017 6:31 AM
4. Which of the following gives a bank a copy of the official signatures of any persons authorized to sign checks?
a. A loan statement
b. A signature card
c. A visiting card
d. A memo statement
e. A payee card
ANSWER: b
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-2 - LO: 6-2
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - AK - ACBSP: Financial Statements
United States - AK - AICPA-FN: Reporting
KEYWORDS: Bloom's: Remembering
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 1/10/2017 12:52 AM
5. A check issued to a creditor in the amount of $35 was recorded in the journal as $350. In the bank reconciliation, the
correction would be recorded as a(n)
a. deduction from the bank statement balance.
b. addition to the bank statement balance.
c. deduction from the ledger balance of cash.
d. addition to the ledger balance of cash.
e. addition to a revenue account.
ANSWER: d
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-3 - LO: 6-3
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Applying
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
6. Which of the following is deducted from the ledger balance of cash in a bank reconciliation statement?
a. A bank service charge
b. A deposit in transit
c. A bank note redeemed
d. A check collected
e. A bank credit memo
ANSWER: a
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-3 - LO: 6-3
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Reporting
KEYWORDS: Bloom's: Understanding
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 1/10/2017 2:49 AM
7. All of the following are items that cause a difference between the bank balance and the book balance except
a. NSF checks.
b. deposits in transit.
c. outstanding checks.
d. canceled checks.
e. bank service charges.
ANSWER: d
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-3 - LO: 6-3
NATIONAL STANDARDS: United States - AACSB: Reflective Thinking
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Understanding
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
8. In a bank reconciliation, a $400 NSF check is
a. deducted from the ledger balance.
b. added to the ledger balance.
c. deducted from the bank balance.
d. added to the bank balance.
e. ignored.
ANSWER: a
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-3 - LO: 6-3
NATIONAL STANDARDS: United States - AACSB: Reflective Thinking
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Understanding
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
9. The ledger balance of cash may differ from the bank statement balance because of
a. NSF checks.
b. outstanding checks.
c. service charges.
d. deposits in transit.
e. all of these.
ANSWER: e
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-3 - LO: 6-3
NATIONAL STANDARDS: United States - AACSB: Reflective Thinking
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Understanding
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
10. B. Hallonon shows a balance in her Cash account of $360, but the bank statement just received shows a balance of
$460. The difference of $100 may be caused by
a. an NSF check for $100.
b. an outstanding check for $100.
c. a debit memo for $100.
d. a deposit in transit of $100.
e. interest income of $50.
ANSWER: b
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-3 - LO: 6-3
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Applying
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
11. Which of the following would be added to the bank statement balance of cash?
a. Note collected by bank
b. Service charges
c. Deposits in transit
d. Outstanding checks
e. NSF checks
ANSWER: c
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-3 - LO: 6-3
NATIONAL STANDARDS: United States - AACSB: Reflective Thinking
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Remembering
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
12. A check written for $68.30 in payment of an account was recorded on the books as $86.30. On a bank
reconciliation, this will appear as a(n)
a. addition to the bank balance for $18.
b. deduction from the bank balance for $18.
c. addition to the ledger balance for $18.
d. deduction from the ledger balance for $18.
e. addition to the bank balance of $36.
ANSWER: c
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-3 - LO: 6-3
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Applying
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
ANSWER: e
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-3 - LO: 6-3
NATIONAL STANDARDS: United States - AACSB: Reflective Thinking
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Understanding
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
14. On a bank statement, a deposit of $402 was recorded as $204. The difference of $198 should be treated as a(n)
a. deduction from the ledger balance of cash.
b. addition to the bank statement balance.
c. deduction from the bank statement balance.
d. addition to the ledger balance of cash.
e. addition to the Sales account.
ANSWER: b
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-3 - LO: 6-3
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Applying
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
15. Accompanying the bank statement is a debit memorandum for an NSF check for $120. This item would be included
on the bank reconciliation as a(n)
a. addition to the bank statement balance.
b. deduction from the bank statement balance.
c. addition to the ledger balance of cash.
d. deduction from the ledger balance of cash.
e. addition to a revenue account.
ANSWER: d
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-3 - LO: 6-3
NATIONAL STANDARDS: United States - AACSB: Reflective Thinking
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Understanding
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
16. The amount of cash appearing on the November 30 balance sheet is the amount
a. reported on the November 30 bank statement.
b. shown as the adjusted balance on the bank reconciliation statement.
c. of cash added to the book balance on the bank reconciliation.
d. of cash deducted from the book balance on the book reconciliation.
e. reported on the October 31 bank statement.
ANSWER: b
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-3 - LO: 6-3
NATIONAL STANDARDS: United States - AACSB: Reflective Thinking
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Understanding
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
17. After preparing the bank reconciliation, journal entries must be prepared for
a. any errors made on the books revealed by the bank reconciliation.
b. any errors made by the bank revealed by the bank reconciliation.
c. all items on the bank's side.
d. only outstanding checks.
e. only deposits in transit.
ANSWER: a
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-4 - LO: 6-4
NATIONAL STANDARDS: United States - AACSB: Reflective Thinking
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Remembering
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
18. Which of the following is the journal entry to record a NSF (non-sufficient funds) check received from a customer?
a. Debit to Accounts Receivable and a credit to Cash
b. Debit to Sales Expense and a credit to Accounts Payable
c. Debit to Bad Debts and a credit to Other Income
d. Debit to Payments and a credit to Cash
e. Debit to Cash and a credit to Accounts Payable
ANSWER: a
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-4 - LO: 6-4
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Financial Statements
KEYWORDS: Bloom's: Understanding
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 1/10/2017 8:57 AM
19. Manx Company's bank statement shows that a note receivable of $15,000 and interest of $1,050 were collected by
the bank on behalf of the depositor. The entry required on the company's books is
a. debit Cash; credit Notes Receivable.
b. debit Cash; debit Interest Expense; credit Notes Receivable.
c. debit Cash; debit Interest Income; credit Notes Receivable.
d. debit Cash; credit Interest Income; credit Notes Receivable.
e. debit Notes Receivable; credit Cash; credit Interest Income.
ANSWER: d
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-4 - LO: 6-4
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Applying
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
20. An NSF check held by the payee should be carried on the payee's records as
a. Cash Short and Over.
b. an account receivable.
c. an account payable.
d. part of cash on hand.
e. a note receivable.
ANSWER: b
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-4 - LO: 6-4
NATIONAL STANDARDS: United States - AACSB: Reflective Thinking
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Remembering
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
21. Two bank statement amounts that require journal entries are
a. collection of a note receivable and deposits in transit.
b. bank service charges and an NSF check.
c. outstanding checks and an error in recording a check.
d. deposits in transit and bank service charges.
e. deposits in transit and outstanding checks.
ANSWER: b
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-4 - LO: 6-4
NATIONAL STANDARDS: United States - AACSB: Reflective Thinking
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Understanding
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
22. When a Petty Cash Fund has been established, which of the following relationships should be true at all times?
a. Petty Cash Fund = Cash in the petty cash box − Petty cash vouchers
b. Petty Cash Fund = Petty cash vouchers
c. Petty Cash Fund = Cash in the petty cash box + Petty cash vouchers
d. Petty Cash Fund = Cash in the petty cash box
e. Petty Cash Fund = Cash in the petty cash box − $100
ANSWER: c
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-5 - LO: 6-5
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - AK - ACBSP: GAAP
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Applying
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
ANSWER: e
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-5 - LO: 6-5
NATIONAL STANDARDS: United States - AACSB: Reflective Thinking
STATE STANDARDS: United States - AK - ACBSP: Recording Transactions
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Understanding
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
24. If the Petty Cash Fund is not replenished on the balance sheet date,
a. income will be understated.
b. both assets and liabilities will be understated.
c. assets will be understated.
d. liabilities will be overstated.
e. both assets and income will be overstated.
ANSWER: e
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-5 - LO: 6-5
NATIONAL STANDARDS: United States - AACSB: Reflective Thinking
STATE STANDARDS: United States - AK - ACBSP: GAAP
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Understanding
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
25. A Petty Cash Fund established with a $300 balance had petty cash receipts totaling $269 and cash in the amount of
$31. The entry to replenish the fund would include a
a. credit to Cash for $269.
b. debit to Petty Cash Fund for $269.
c. debit to various expenses for $31.
d. credit to Petty Cash Fund for $269.
e. credit to various expenses for $269.
ANSWER: a
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-5 - LO: 6-5
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - AK - ACBSP: Recording Transactions
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Applying
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
26. A Petty Cash Fund established for a $250 balance had petty cash receipts totaling $219 and cash in the amount of
$31. The entry to replenish the fund would include a
a. credit to Petty Cash Fund for $219.
b. credit to Cash for $250.
c. debit to Petty Cash Fund for $219.
d. debit to the various accounts money was spent on for $219.
e. debit to Petty Cash Fund for $250.
ANSWER: d
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-5 - LO: 6-5
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - AK - ACBSP: Recording Transactions
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Applying
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
27. The amount of the Petty Cash Fund should be included on the bank reconciliation as
a. an addition to the book balance of cash.
b. an addition to the bank statement balance.
c. a deduction from the bank statement balance.
d. a part of a late deposit.
e. The Petty Cash Fund is not included on the bank reconciliation.
ANSWER: e
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-5 - LO: 6-5
NATIONAL STANDARDS: United States - AACSB: Reflective Thinking
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Understanding
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
28. Which of the following statements is true about a debit balance in a Change Fund?
a. It is classified as a revenue account and is recorded on the income statement.
b. It is classified as an asset and is recorded on the balance sheet.
c. It is classified as a miscellaneous expense and is recorded on the income statement.
d. It is classified as a liability and is recorded on the balance sheet.
e. It is classified as owner's equity and is recorded on the balance sheet.
ANSWER: b
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-6 - LO: 6-6
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - AK - ACBSP: Financial Statements
United States - AK - AICPA-FN: Reporting
KEYWORDS: Bloom's: Understanding
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 1/6/2017 6:45 AM
29. At the end of the day, $443 in cash is in the register, and the amount of the Change Fund is $100. If the cash register
tape indicates $345, which of the following journal entries should be made?
a. Debit Cash, $345; credit Sales, $345
b. Debit Cash, $443; credit Sales, $443
c. Debit Cash, $443; credit Cash Short and Over, $98; credit Sales, $345
d. Debit Cash, $343; debit Change Fund, $100; credit Sales, $443
e. Debit Cash, $343; debit Cash Short and Over $2; credit Sales $345
ANSWER: e
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-6 - LO: 6-6
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - AK - ACBSP: Recording Transactions
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Applying
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
30. At the end of fiscal year, if the cash short and over account has a credit balance, the amount is reported on the:
a. income statement under Bad Debts.
b. balance sheet under Owner's Equity.
c. income statement under Miscellaneous Income.
d. balance sheet under Current Liabilities.
e. income statement under Non-Operating Expenses.
ANSWER: c
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-7 - LO: 6-7
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - AK - ACBSP: Financial Statements
United States - AK - AICPA-FN: Reporting
KEYWORDS: Bloom's: Understanding
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 1/10/2017 1:38 AM
31. The system of policies and procedures that a company sets to protect its assets are known as:
a. a lockbox system.
b. critical control system.
c. a reconciliation system.
d. a standard system.
e. internal control system.
ANSWER: e
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-1 - LO: 6-1
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - AK - ACBSP: Internal Control
United States - AK - AICPA-FN: Reporting
KEYWORDS: Bloom's: Remembering
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 1/10/2017 1:40 AM
32. Which of the following represent good internal control procedures concerning cash receipts?
a. Cash should be deposited only at the end of the month.
b. Cash receipts should be posted to the Accounts Receivable account at the end of the month.
c. Designate a specific employee to open mail, handle cash, and record the cash.
d. Endorse checks immediately upon receipt with the stamp, “For Deposit Only”.
ANSWER: d
POINTS: 1
DIFFICULTY: Moderate
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-1 - LO: 6-1
NATIONAL STANDARDS: United States - AACSB: Reflective Thinking
STATE STANDARDS: United States - AK - ACBSP: Internal Control
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Understanding
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
33. Which of the following represents good internal control procedures concerning cash payments?
a. Allow anyone to access petty cash.
b. Make sure that all cash payments are made by check (with the exception of petty cash).
c. Assign an employee responsibility of preparing the checks, signing the checks, and preparing the bank
reconciliation.
d. Keep check supplies available to all employees.
ANSWER: b
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-1 - LO: 6-1
NATIONAL STANDARDS: United States - AACSB: Reflective Thinking
STATE STANDARDS: United States - AK - ACBSP: Internal Control
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Understanding
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
34. Which of the following is required by a bank to authorize the payment of a check made out to a business?
a. The transfer of the check
b. The issue of the check
c. The acceptance of the check
d. The endorsement of the check
ANSWER: d
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-2 - LO: 6-2
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - AK - ACBSP: Internal Control
United States - AK - AICPA-FN: Reporting
KEYWORDS: Bloom's: Understanding
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 1/6/2017 7:31 AM
35. Which of the following would be added to the bank statement balance when preparing a bank reconciliation?
a. deposit in transits.
b. outstanding checks.
c. notes collected by the bank.
d. bank service charges.
ANSWER: a
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-3 - LO: 6-3
NATIONAL STANDARDS: United States - AACSB: Reflective Thinking
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Remembering
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
36. Which of the following would be subtracted from the bank statement balance when preparing a bank reconciliation?
a. deposit in transits.
b. outstanding checks.
c. notes collected by the bank.
d. bank service charges.
ANSWER: b
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-3 - LO: 6-3
NATIONAL STANDARDS: United States - AACSB: Reflective Thinking
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Remembering
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
37. Which of the following would be added to the ledger balance of cash when preparing a bank reconciliation?
a. deposit in transits.
b. outstanding checks.
c. notes collected by the bank.
d. bank service charges.
ANSWER: c
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-3 - LO: 6-3
NATIONAL STANDARDS: United States - AACSB: Reflective Thinking
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Remembering
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
38. Which of the following would be subtracted from the ledger balance of cash when preparing a bank reconciliation?
a. deposit in transits.
b. outstanding checks.
c. notes collected by the bank.
d. bank service charges.
ANSWER: d
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-3 - LO: 6-3
NATIONAL STANDARDS: United States - AACSB: Reflective Thinking
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Remembering
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
39. Which of the following would require a journal entry after the bank reconciliation has been prepared?
a. deposit in transits.
b. outstanding checks.
c. notes collected by the bank.
d. none of the answers listed.
ANSWER: c
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-4 - LO: 6-4
NATIONAL STANDARDS: United States - AACSB: Reflective Thinking
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Understanding
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
40. The bank reconciliation for Stuart Co. shows a $1,000 note collected by the bank from customer, A. Randall. The
journal entry to record this item would involve a
a. debit to cash.
b. credit to Accounts Receivable.
c. debit to Notes Receivable.
d. none of the answers listed.
ANSWER: a
POINTS: 1
DIFFICULTY: Easy
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
LEARNING OBJECTIVES: CACC.NSMB.13.6-4 - LO: 6-4
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - AK - ACBSP: Bank Reconciliation
United States - AK - AICPA-FN: Measurement
KEYWORDS: Bloom's: Applying
DATE CREATED: 7/23/2013 2:38 PM
DATE MODIFIED: 7/23/2013 2:38 PM
Title: Ampiaispesä
Kyläkertomus
Language: Finnish
Kyläkertomus
Kirj.
VEIKKO KORHONEN
I.
Maaliskuu oli lopuillaan. Kolmojoki oli luonut jääpeitteensä ja
virtaili tasaisesti lämpimässä auringon paisteessa.
Kolmojoki oli aikoinaan virtaillut koskemattoman metsän läpi.
Vähitellen sen rannoille oli muodostunut viljelyksiä ja taloja, ja nyt se
jo eroitti toisistaan kaksi kyläkuntaa, jotka olivat sen äyräille
muodostuneet. Kyläkunta olisi oikeastaan sopinut olemaan yhtenä,
mutta se oli jotenkuten eroittunut kahdeksi. Joen pohjoispuolinen
kyläkunta sai joesta nimensä ja eteläistä sanottiin Korpijoeksi,
koskapa sen kylän asukkaat vieläkin väittivät Kolmojokea aikoinaan
sanotun Korpijoeksi.
— Eikö mitä… Oli se isä pannut rysän jokeen, mutta oli jättänyt
kalasimen auki. Se ukko on välistä semmoinen toljake, virkkoi Eedla.