Self Assessment Quizzes

CHAPTER 17: Section 1 The Purchases Journal

	1.	The completed purchases journal is a quick reference tool for the accountant to review current transactions that affect

		a.	Purchases and Accounts Receivable
		b.	Purchases and Accounts Payable
		c.	Purchases and Inventory
		d.	Accounts Payable and Accounts Receivable

	2.	In the purchases journal the column used to enter debits to general ledger accounts for which there are no special columns is the

		a.	Accounts Payable credit column
		b.	Purchases debit column
		c.	Debit column
		d.	Credit column

	3.	An invoice is recorded in the purchases journal

		a.	after it is verified
		b.	after it is paid
		c.	after the due date
		d.	after the end of the month

	4.	Each transaction in the purchases journal is

		a.	a cash purchase
		b.	a purchase on account
		c.	a discounted purchase
		d.	an inventory purchase

	5.	Each transaction in the purchases journal is

		a.	separately posted to the accounts payable subsidiary ledger
		b.	separately posted to the accounts receivable subsidiary ledger
		c.	posted monthly to the accounts payable subsidiary ledger
		d.	posted monthly to the accounts receivable subsidiary ledger

	6.	When entering a purchase in the purchase journal

		a.	use the date the invoice was prepared
		b.	use the date the invoice was mailed
		c.	use the date the invoice was received
		d.	use the date the invoice is due

	7.	When ruling the purchases journal,

		a.	the ruling is drawn across all columns
		b.	the ruling is drawn across only columns with balances
		c.	the ruling is only drawn across the General Debit column
		d.	the ruling is drawn across the amount columns only

	8.	Entries to the General Debit column are posted

		a.	daily
		b.	weekly
		c.	monthly
		d.	quarterly