1. A company records its transactions and events in four special journals and a general journal. The company completed the following transaction. Identify the journal in which each transaction should be recorded: Cash Disbursement Journal, Cash Receipts Journal, Purchase Journal, Sales Journal, or General Journal

Sold Equipment on Account

2. The ___________________________ prescribes that an accounting information system conform with a company's activities, personnel, and structure.

3. A company records its transactions and events in four special journals and a general journal. The company completed the following transaction. Identify the journal in which each transaction should be recorded: Cash Disbursement Journal, Cash Receipts Journal, Purchase Journal, Sales Journal, or General Journal

A customer returned merchandise for a cash refund

4. What is the purpose of the Sarbanes-Oxley Act of 2002?

a. to regulate international business transactions

b. to aid management in directing operations toward achieving business goals

c. to guarantee that American corporations will not go bankrupt

d. to restore public confidence and trust in the financial reporting of companies

5. A company records its transactions and events in four special journals and a general journal. The company completed the following transaction. Identify the journal in which each transaction should be recorded: Cash Disbursement Journal, Cash Receipts Journal, Purchase Journal, Sales Journal, or General Journal

Returned damaged goods to supplier

6. A company records its transactions and events in four special journals and a general journal. The company completed the following transaction. Identify the journal in which each transaction should be recorded: Cash Disbursement Journal, Cash Receipts Journal, Purchase Journal, Sales Journal, or General Journal

Paid the monthly electric bill

7. A company records its transactions and events in four special journals and a general journal. The company completed the following transaction. Identify the journal in which each transaction should be recorded: Cash Disbursement Journal, Cash Receipts Journal, Purchase Journal, Sales Journal, or General Journal

Sold Merchandise for Cash

8. A person who controls or has access to an asset must not keep that asset's accounting records. This describes the internal control principle of ____

9. A company records its transactions and events in four special journals and a general journal. The company completed the following transaction. Identify the journal in which each transaction should be recorded: Cash Disbursement Journal, Cash Receipts Journal, Purchase Journal, Sales Journal, or General Journal

Adjusting Entries

10. A company records its transactions and events in four special journals and a general journal. The company completed the following transaction. Identify the journal in which each transaction should be recorded: Cash Disbursement Journal, Cash Receipts Journal, Purchase Journal, Sales Journal, or General Journal

Paid cash to a creditor