Chapter 10
A bank form used to list the cash and checks to be deposited
Deposit Slip
Cash kept on hand for making small, incidental cash payments.
Petty cash fund
The current price that is charged for a similar item of merchandise
in the market.
Market Value
What city is the Statue of Liberty located in?
New York
Which animal in a Lion pride does the majority of the hunting?
The lioness
A check that has a future date instead of the actual date; it should not be deposited until the date on the check.
Postdated check
The person responsible for maintaining the
petty cash fund and for making petty cash disbursements.
Petty cashier
An inventory costing method that assumes that the first items purchased
(____ in) were the first items sold (____ out).
FIFO
What is the name of the world's hottest chili pepper?
Carolina Pepper
What is the only big cat that doesn’t roar?
Cheetah
A check returned to the depositor by the bank because the drawer’s checking account does not have sufficient funds to cover the amount
NSF Check
A form requesting
money to replenish
the petty cash fund.
Petty cash requisition
An electronic cash register.
Point of sale terminal (POS)
A majority of adults have how many permanent teeth?
32
Where are the only two places in the world where lions live in the wild?
Africa and India
A check endorsement that includes only the signature or stamp of the depositor. It does not specify the new owner of the check.
Blank Endorsement
Any payment made from the
petty cash fund.
Petty cash disbursement
An inventory system that keeps a constant, up-to-date record of the amount of merchandise on hand.
Perpetual inventory system
What is the best-selling video game franchise?
Mario
What is a group of pigs called?
A drift
The process of determining any differences between a bank statement balance and a checkbook balance.
Reconciling
A form that provides proof of payment from the petty cash fund.
Petty cash voucher
The requirement that ending merchandise inventory be stated at the
lesser of cost (calculated using one of the four inventory costing methods)
or market value.
lower-of-cost-or-market rule
How many folds are in a chef's hat?
100
What animal is known for having 32 brains?
Leech