Matching Questions
86.
Match the accounting terms with the description.
1. Canceled check
A statement that accounts for all differences between the balance on the bank statement and the book balance of cash
2. Blank endorsement
A signature of the payee written on the back of the check that transfers ownership of the check without specifying to whom or for what purpose
3. Bonding
The process by which employees are investigated by an insurance company that will insure the business against losses through employee theft or mishandling of funds
4. Full endorsement
A check paid by the bank on which it was drawn
5. Debit memorandum
In accounting, currency, coins, checks, money orders, and funds on deposit in a bank
6. Cash
A verification that the amount of currency and coins in a cash register agrees with the amount shown on the cash register audit tape
7. Service charge
An account used to record any discrepancies between the amount of currency and coins in the cash register and the amount shown on the audit tape
8. Petty cash voucher
A written order signed by an authorized person instructing a bank to pay a specific sum of money to a designated person or business
9. Dishonored check
A form that explains any addition, other than a deposit, to a checking account
10. Payee
A form that explains any deduction, other than a check, from a checking account
11. Drawer
A deposit that is recorded in the cash receipts journal but that reaches the bank too late to be shown on the monthly bank statement
12. Outstanding checks
A form prepared to record the deposit of cash or checks to a bank account
13. Bank reconciliation statement
A check returned to the depositor unpaid because of insufficient funds in the drawer’s account; also called an NSF check
14. Endorsement
The bank on which a check is written
15. Check
The person or firm issuing a check
16. Deposit slip
A written authorization that transfers ownership of a check
17. Restrictive endorsement
A signature transferring a check to a specific person, firm, or bank
18. Deposit in transit
A financial instrument whose ownership can be transferred to another person or business
19. Cash register proof
Checks that have been recorded in the cash payments journal but have not yet been paid by the bank
20. Postdated check
The person or firm to whom a check is payable
21. Petty cash analysis sheet
A form used to record transactions involving petty cash
22. Drawee
A form used to record the payments made from a petty cash fund
23. Promissory note
A check dated some time in the future
24. Credit memorandum
A written promise to pay a specified amount of money on a specific date
25. Negotiable
A signature that transfers a check to a specific party for a stated purpose
26. Cash Short or Over account
A fee charged by a bank to cover the costs of maintaining accounts and providing services
27. Statement of account
A form sent to a firm’s customers showing transactions during the month and the balance owed
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