FABM1 Chart of Accounts

Front

What are the components of the Chart of Accounts?

Back

Assets, Liabilities, Equity, Revenue, Drawings, Expenses.

Front

Name a component of the Chart of Accounts related to ownership.

Back

Equity

Front

Which component of the Chart of Accounts represents what the company owns?

Back

Assets

Front

Which component of the Chart of Accounts represents what the company owes?

Back

Liabilities

Front

Which component of the Chart of Accounts is related to income?

Back

Revenue

Front

Which component of the Chart of Accounts is related to withdrawals by the owner?

Back

Drawings

Front

Which component of the Chart of Accounts is related to costs incurred?

Back

Expenses

Front

Determine the Major Account of the account title below:

Cash

Back

Asset

Front

Determine the Major Account of the account title below:

Accounts Receivable

Back

Asset

Front

Determine the Major Account of the account title below:

Notes Receivable

Back

Asset