Accounting Ch 1

Accounting Ch 1

9th - 12th Grade

20 Qs

quiz-placeholder

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Accounting Ch 1

Accounting Ch 1

Assessment

Quiz

Other

9th - 12th Grade

Medium

Created by

Laura Depue

Used 220+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 5 pts

Cash is classified as a(n)
Asset
Liability
Owner's Equity
Revenue

2.

MULTIPLE CHOICE QUESTION

20 sec • 5 pts

Kim Park, Capital is classified as a(n)
Asset
Liability
Owner's Equity
Expense

3.

MULTIPLE CHOICE QUESTION

20 sec • 5 pts

Prepaid Insurance is classified as a(n)
Asset
Liability
Owner's Equity 
Revenue

4.

MULTIPLE CHOICE QUESTION

20 sec • 5 pts

Accounts Payable, Supply Depot is classified as a(n)
Asset 
Liability
Owner's Equity
Expense

5.

MULTIPLE CHOICE QUESTION

20 sec • 5 pts

Kim Park, Drawing is classified as a(n)
Asset
Liability
Owner's Equity
Expense

6.

MULTIPLE CHOICE QUESTION

20 sec • 5 pts

The Accounting Equation is
Assets = Owner's Equity
Assets + Liabilities = Owner's Equity
Assets - Liabilities = Owner's Equity
Assets = Liabilities + Owner's Equity

7.

MULTIPLE CHOICE QUESTION

20 sec • 5 pts

Sales is classified as a(n)
Asset
Liability
Owner's Equity
Revenue

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