Whenever You Write a Check or Make a Deposit, an Entry

question 53

Multiple Choice

Whenever you write a check or make a deposit, an entry should be made in your:

• A)deposit slip.
• B)checkbook ledger.
• C)overdraft booklet.
• D)balance sheet.
• E)personal check.

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Definitions:

Step-Down Method

A cost allocation method used in managerial accounting that allocates service department costs to other parts of an organization, including production departments.

Service Department Costs

Expenses incurred by support departments within a company, such as maintenance and administration, which do not directly produce goods or services but are necessary for operations.

Direct Method

A way of allocating service department costs directly to producing departments without any intermediate allocations, typically used in cost accounting.

Interdepartmental Services

Services provided between different departments within an organization, facilitating internal operations and support.