CODESP Accounting and Fiscal Services (Account Clerk)

Question 1

An account clerk records a payment of $1,247.50 against an invoice of $1,475.00. What balance remains on the invoice?

Accepted Answer

$227.50

Answer

$237.50

Answer

$127.50

Answer

$232.50

Question 2

In double-entry bookkeeping, what happens every time a transaction is recorded?

Accepted Answer

At least one account is debited and at least one account is credited for equal total amounts

Answer

Only the cash account is updated

Answer

A single entry is made in the general ledger

Answer

The transaction is recorded twice in the same account

Question 3

A school site has a supply budget of $12,000 for the year. After spending $4,800 in the first semester, what percentage of the budget remains?

Accepted Answer

60%

Answer

40%

Answer

52%

Answer

48%

Question 4

Which document would an account clerk compare against a purchase order and receiving report before approving payment to a vendor?

Accepted Answer

The vendor's invoice

Answer

The district's annual audit report

Answer

The employee timesheet

Answer

The bank reconciliation statement

Question 5

A petty cash fund starts with $200. Receipts in the box total $135 and remaining cash is $60. What does this indicate?

Accepted Answer

The fund is $5 short

Answer

The fund is $5 over

Answer

The fund balances exactly

Answer

The fund is $15 short

Question 6

An employee earns $18.40 per hour and worked 37.5 hours in one week. What is the gross pay for that week?

Accepted Answer

$690.00

Answer

$680.00

Answer

$697.50

Answer

$672.50