SUA EXAMS AND QUIZZES QUESTIONS AND
ANSWERS 2026
In the seven step-process for recording a transaction, the second step is finding the
appropriate flowchart - Answers - T
Nancy Ford is an hourly employee - Answers - T
If you have a NO symbol on your transactions list document (on the left), you don't have
to do an accounting entry. - Answers - F
Assets recovery cycle, is one of the three cycles that will be completed in SUA -
Answers - F
One of the special journals provided to you is the Accounts Receivables special journal.
- Answers - F
You recognize the purchase, on the date on which the goods were received,
irrespective of the fact that the invoice was received later. - Answers - T
For cash purchases, you need 3 documents before you make a journal entry in cash
disbursement journal. They are Receiving Report, Invoice, and copy of the Purchase
Order. - Answers - T
Ray Kramer mentions on the invoice that it has been paid via check #. Why is this
important? - Answers - -Good internal controls
-avoids duplicate payment
For payment on account for inventory purchase, Ray Kramer needs all three documents
- Purchase Order, Invoice, and Receiving Report before signing on the check prepared
by Jim Adams. - Answers - T
When you purchase a fixed asset on credit, you have to prepare a fixed asset
subsidiary ledger for that fixed asset - Answers - T
In the Cash Disbursement journal, when you are debiting Other GL account, you also
have to mention the specific account number for that account. - Answers - T
You are not getting a discount, when you are purchasing from Chicago Office Supplies
in your project - Answers - T
How many documents are absolutely necessary for Jim Adams, before he can make
make an entry for inventory purchase in the purchase journal? - Answers - 3
ANSWERS 2026
In the seven step-process for recording a transaction, the second step is finding the
appropriate flowchart - Answers - T
Nancy Ford is an hourly employee - Answers - T
If you have a NO symbol on your transactions list document (on the left), you don't have
to do an accounting entry. - Answers - F
Assets recovery cycle, is one of the three cycles that will be completed in SUA -
Answers - F
One of the special journals provided to you is the Accounts Receivables special journal.
- Answers - F
You recognize the purchase, on the date on which the goods were received,
irrespective of the fact that the invoice was received later. - Answers - T
For cash purchases, you need 3 documents before you make a journal entry in cash
disbursement journal. They are Receiving Report, Invoice, and copy of the Purchase
Order. - Answers - T
Ray Kramer mentions on the invoice that it has been paid via check #. Why is this
important? - Answers - -Good internal controls
-avoids duplicate payment
For payment on account for inventory purchase, Ray Kramer needs all three documents
- Purchase Order, Invoice, and Receiving Report before signing on the check prepared
by Jim Adams. - Answers - T
When you purchase a fixed asset on credit, you have to prepare a fixed asset
subsidiary ledger for that fixed asset - Answers - T
In the Cash Disbursement journal, when you are debiting Other GL account, you also
have to mention the specific account number for that account. - Answers - T
You are not getting a discount, when you are purchasing from Chicago Office Supplies
in your project - Answers - T
How many documents are absolutely necessary for Jim Adams, before he can make
make an entry for inventory purchase in the purchase journal? - Answers - 3
