Chapter 9 Flashcards
(7 cards)
0
Q
True or false is a canceled check a discrepancy item
A
False
1
Q
A cash short or over account with a debit balance represents a type of
A
Expense
2
Q
Of which payment system is the following true the volume of transaction is high but the value of individual transactions is relatively small
A
Cash
3
Q
Monthly mortgage payments are usually made by
A
Direct transfers
4
Q
The payment system that is growing most rapidly consists of
A
Debit cards
5
Q
The journal entry to replenish the petty cash fund is
A
Debit expenses credit bank
6
Q
What is the petty cash fund classified as
A
Current asset
