1. A transaction files is a group of related records?

a. true.

b. false.

c. maybe?

2. A master file keep account of the new business only?

a. no, that's done with the transaction files.

b. true.

c. within each quarter.

3. Why use accounting files anyway?

a. to give the secretary some work to do.

b. to give the government work to do.

c. It is easier to program and control money.

4. Which of these is a transaction?

a. cleaning off the desktop.

b. making a sell?

c. making a sales pitch.

5. What is the transaction journal used for?

a. to keep a running of equipment breakdowns.

b. to keep all records of money changing hands.

c. to offer interesting articles about business. Java.

6. Why use computers in accounting?

a. To save money and time.

b. To be different.

c. It is the only way.

7. What is a trial balance sheet?

a. list ing of all accounts after transactions have been applied.

b. an equal listing of income only accounts.

c. a temporary transaction file

8. Which is not an income account?

a. Sales.

b. sales taxes.

c. accounts payable.

9. Which is not a transaction?

a. borrowed money to buy a machine.

b. sold inventory on credit.

c. changed tires on company's moving van.

10. What must be done right after the trial balance?

a. adjustments should be made to inventory.

b. books should be closed.

c. income statement printed