1. Which of the following causes a cash shortagage?

A day's total sales is equal to the cash register reading.

A day's receipts are more than the cash register reading.

A day's total sales is more than the cash register reading.

A day's receipts are less than the cash register reading.

2. The amount of the Petty Cash Fund should be included on the bank reconciliation as

The Petty Cash Fund is not included on the bank reconciliation.

a deduction from the bank statement balance.

an addition to the book balance of cash.

an addition to the bank statement balance.

a part of a late deposit.

3. Which of the following is the journal entry to record a NSF (non-sufficient funds) check received from a customer?

Debit to Cash and a credit to Accounts Payable

Debit to Payments and a credit to Cash

Debit to Bad Debts and a credit to Other Income

Debit to Sales Expense and a credit to Accounts Payable

Debit to Accounts Receivable and a credit to Cash

4. A __________________ is a record indicating the amount of each petty cash voucher, the accounts to which it should be charged, and the purpose of the expenditure.

none of the answers listed

petty cash fund

signature card

petty cash payments record

5. Which of the following statements is true about a debit balance in a Change Fund?

It is classified as a liability and is recorded on the balance sheet.

It is classified as owner's equity and is recorded on the balance sheet.

It is classified as a revenue account and is recorded on the income statement.

It is classified as a miscellaneous expense and is recorded on the income statement.

It is classified as an asset and is recorded on the balance sheet.

6. Which data are generally not included on a check?

Signature of the party writing the check

Address of the payee

Amount the bank is to pay the payee

Name of the bank on which the check was drawn

Date of the check