Final
Jeopardy
Accounting Chapter 5
Completion
$100
$200
$300
$400
$500
Multiple
Choice
$100
$200
$300
$400
$500
Answer
Answer
Completion
$100
$200
$300
$400
$500
Multiple
Choice
T/F
T/F
$100
$100
$200
$200
$300
$300
$300
$400
$400
$400
$500
$500
$100
$200
New Question
Main
A bank card that, when
making purchases,
automatically deducts the
amount of the purchase from
the checking account of the
cardholder.
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New Question
Main
What is a debit
card?
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Main
A bank account from which
payment can be ordered by a
depositor.
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New Question
Main
What is a
checking
account?
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New Question
Main
A check that a bank refuses to
pay.
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Main
What is
dishonored
check?
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Main
A computerized cash payment
system that transfers funds
without the use of check,
currency, or other paper
documents.
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Main
What is
electronic
funds
transfer?
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Main
An endorsement restricting
further transfer of a check’s
ownership.
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Main
What is a
restrictive
endorsement?
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New Question
Main
A lost check with a blank endorsement on
it can be cashed by:
A. anyone who has the check.
B. only the person whose name follows the words “Pay
to the order of.”
C. only the person who endorsed the check.
D. no one.
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Main
What is
A. anyone who
has the check. ?
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Main
If any kind of error is made in
preparing a check
A. a new check should be written
B. VOID should be written on the
check stub
C. VOID should be written on the
check.
D. all of these
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Main
What is D. all of
these?
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New Question
Main
Each time cash or checks are
placed in a blank account, the
customer prepares a
A. signature card
B. deposit slip
C. check
D. none of these
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New Question
Main
What is
B. a deposit slip?
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Main
An endorsement on the back of a
check consisting only of a signature is
A. a blank endorsement
B. a special endorsement
C. a restrictive endorsement
D. an incorrect endorsement
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Main
What is
A. blank
endorsement?
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New Question
Main
The entry to establish a $200.00 petty
cash fund is:
A. debit Cash, $200; credit Petty cash,
$200
B. debit Misc. Expense, $200; credit
Cash $200
C. debit Petty Cash, $200; credit Cash,
$200
D. debit Petty Cash, $200; credit Misc.
Expense $200
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New Question
Main
What is
C. debit Petty
Cash, $200; credit
Cash, $200?
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Main
A check with a future date on it.
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Main
What is a
postdated check?
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Main
An amount of cash kept on
hand and used for making
small purchases.
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Main
Who is petty
cash?
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Main
A form showing
proof of a petty
cash payment.
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Main
What is a petty
cash slip?
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Main
A signature or stamp on the
back of a check transferring
ownership.
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What is
endorsement?
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Main
A signature or stamp on
the back of a check
transferring ownership.
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Main
What is an
endorsement?
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Main
An endorsement consisting
only of the endorser’s
signature.
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Main
What is a blank
endorsement?
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New Question
Main
A petty cash fund is always
replenished
A. daily
B. weekly
C. at the end of the month
D. none of these
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New Question
Main
What is C. at the end of
the month?
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New Question
Main
An endorsement on the back of a check
consisting of the words “Pay to the order of”
and a new check owner’s name is a
A. blank endorsement
B. special endorsement
C. restrictive endorsement
D. signature endorsement
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New Question
Main
What is B. a special
endorsement?
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New Question
Main
An endorsement on the back of a
check indicating that the check is to
be accepted for deposit only is
A. blank endorsement
B. special endorsement
C. restrictive endorsement
D. signature endorsement
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New Question
Main
What is C. restrictive
endorsement?
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New Question
Main
The bank statement shows a checking account balance
of $5,500. There are outstanding checks totaling
$600.00, an outstanding deposit of $400.00, and a bank
service charge of $15.00. The Cash account balance
should be
A. $5300
B. $5700
C. $5285
D. None of these
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What is A.
$5300?
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In order to control cash, one
common method is to ensure
that cash payments are paid
by pre-numbered checks.
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What is True?
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Ownership of a check cannot
be transferred.
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What is False?
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Main
Voided checks should be
recorded in the journal.
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Main
What is True?
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New Question
Main
The petty cash fund is a
liability with a normal debit
balance.
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What is False?
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Main
When the petty cash is
replenished, Petty Cash is
debited and Cash is credited.
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What is False?
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When the petty cash fund is
replenished, the balance of
the petty cash account
increases.
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What is False?
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As petty cash is paid out, the
balance of the petty cash
account decreases.
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Main
What is False?
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New Question
Main
A check with a blank
endorsement can be cashed
by anyone who has the check
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What is True?
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An outstanding check is one
that has been issued but not
yet reported on a bank
statement by the bank.
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What is True?
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Main
The source document for an
electronic funds transfer is a
memorandum.
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What is True?
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