Accounting Self-Assessment Quiz

Name:_________________________ Period:____ Date:_________ Glencoe Accounting (First-Year Course) Chapter 6, Section 1

1.	An accounting period of twelve months ending on the last day of any month except December is called a
		calendar year
		fiscal year
		season in the sun
		business cycle

2.	The paper that is prepared when a business transaction occurs is called a
		check stub
		journal
		source document
		memorandum

3.	Determining the debit and credit parts of each transaction is called
		searching for the truth
		thinking critically
		describing the transaction
		analyzing business transactions

4.	A list of specific information about a business transaction involving the buying or selling of an item and containing the date of the transaction, the quantity, description and cost of each item is called
		a receipt
		an invoice
		a journal
		a stub

5.	The activities that help a business keep its accounting records in an orderly fashion are collectively called
		the master plan
		the key points
		the accounting cycle
		fashion sense

6.	A journal may also be called a
		serial journal
		book of original entry
		fiscal journal
		book of spells

7.	Another term for "recording" a business transaction is
		laying down a track
		dubbing
		transcribing
		journalizing

8.	A record of all the transactions of a business is called
		a journal
		a fiscal year
		source document
		the accounting cycle