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1. What document does a customer receive when goods are returned? a. purchase order d....

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Accounting

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1. What document does a customer receive when goods are returned? a. purchase order d. receiving report b. credit memo e. bill of lading C. debit memo 2. In order to maintain controls over cash receipts, cash is typically deposited while a bank reconciliation is performed a. daily, weekly b. daily, monthly c. weekly, monthly d. monthly, daily e. weekly, weekly 3. In the cash disbursements cycle, the vendor invoice is marked paid when a check is issued in order to: a. file the invoice alphabetically. b. make the necessary entry in the cash disbursements journal. c. indicate that the purchase is a fixed asset acquisition. d. indicate that the purchase has an approved purchase order. e. avoid duplicate payment of the invoice. 4. The sales journal is the only journal that would be used to post a: a. sale d. cash discount b. cash sale e. cash transaction C. credit sale Which of the following is subtracted from an employee's gross pay a. federal unemployment tax b. state unemployment tax c. local unemployment tax d. employer portion of FICA tax

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