Match the Terms Below with the Correct Definitions

question 61

Multiple Choice

Match the terms below with the correct definitions.
-This transfers title to the money and authorizes payment of the check

• A)Petty Cash Fund
• B)Bank routing number
• C)Canceled checks
• D)Positive pay
• E)Payee
• F)Petty cash payments record
• G)Deposit slip
• H)Endorsement
• I)Change Fund
• J)Petty cash voucher

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Definitions:

Owner's Capital

The amount of equity a proprietor has in the business, representing the difference between the business's assets and liabilities.

Prepaid Expenses

Expenses paid in advance for goods or services to be received in the future.

Adjusting Journal Entry

An accounting entry made at the end of an accounting period to allocate income and expenditures to the appropriate period.