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True or False Quiz
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1
The postclosing trial balance and the January 1 trial balance show the same account balances.
A)True
B)False
2
In Chapter 8, a memo, followed by remittances, shows which vendor payments need to be made.
A)True
B)False
3
Refer to the Sales Invoice source document for the products sold and credit cards used.
A)True
B)False
4
When a Bill is received, the customer shown is Cloud_Ware.
A)True
B)False
5
In Chapter 8, use the same as year as the one used in Chapter 7.
A)True
B)False
6
On the Receive Payment window, use the Reference No. field for the check number.
A)True
B)False
7
Credit card sales are deposited to Account 105 Accounts Receivable.
A)True
B)False
8
On January 1, Account 318 Retained Earnings has a credit balance.
A)True
B)False
9
The transaction register shows sales on account.
A)True
B)False
10
The bank sends Cloud_Ware verification of credit card sales.
A)True
B)False





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