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True or False Quiz
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1
In Chapter 3, the owner invests cash and computer equipment in the business.
A)True
B)False
2
The company, Cloud_Ware Student Name, was started in December of the current year.
A)True
B)False
3
In Chapter 3, the transaction register is used as a source document for recording transactions.
A)True
B)False
4
The transaction register shows each customer's account activity.
A)True
B)False
5
The account for recording a check to the U.S. Post Office is Freight In.
A)True
B)False
6
The Sales Receipt window is used for recording cash sales.
A)True
B)False
7
The account distribution for expenses is a credit to Account 101 Checking and a debit to Account 401 Sales.
A)True
B)False
8
The account distribution for cash sales is a debit to Account No. 101 Checking and a credit to Account No. 401 Sales.
A)True
B)False
9
The account distribution for the transfer of funds for the loan payable is a debit to account No. 101 Checking and a credit to Account 205 Loan Payable.
A)True
B)False
10
On the Home page, Income and Expenses are shown graphically.
A)True
B)False





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