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Multiple Choice Quiz
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1
In a firm that uses special journals, a sale of merchandise on credit. is recorded in the
A)cash payments journal.
B)cash receipts journal.
C)sales journal.
D)purchases journal.
2
In a firm that uses special journals, the acceptance of a return of merchandise from a credit customer is recorded in the
A)cash receipts journal.
B)sales journal.
C)cash payments journal.
D)general journal
3
In a firm that uses special journals, the sale of merchandise for cash is recorded in the
A)cash payments journal.
B)cash receipts journal.
C)sales journal.
D)purchases journal.
4
In a firm that uses special journals, the purchase of merchandise on credit is recorded in the
A)cash payments journal.
B)cash receipts journal.
C)purchases journal.
D)general journal
5
In a firm that uses special journals, an allowance given for damaged merchandise is recorded in the
A)cash payments journal.
B)cash receipts journal.
C)purchases journal.
D)general journal
6
In a firm that uses special journals, the collected of sums on account from credit customers is recorded in the
A)cash payments journal.
B)cash receipts journal.
C)sales journal.
D)purchases journal.
7
In a firm that uses special journals, an additional cash investment received from the owner is recorded in the
A)cash receipts journal.
B)sales journal.
C)cash payments journal.
D)general journal
8
In a firm that uses special journals, the issuance of a check to pay a creditor on account is recorded in the
A)cash payments journal.
B)cash receipts journal.
C)sales journal.
D)purchases journal.
9
The Sales account is classified as
A)a liability account.
B)an asset account.
C)a contra account.
D)a revenue account.
10
A firm that sells goods that it purchases for re-sale is a
A)service business.
B)merchandising business.
C)manufacturing business.
D)non-profit business.





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