Accounting Chapter 1 Test Review

Accounting Chapter 1 Test Review

10th - 12th Grade

37 Qs

quiz-placeholder

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Accounting Chapter 1 Test Review

Accounting Chapter 1 Test Review

Assessment

Quiz

Other

10th - 12th Grade

Practice Problem

Medium

Created by

Alexis Quiller

Used 122+ times

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37 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A record summarizing all the information pertaining to a single item in the accounting equation

Accounting equation
Account
Account balance
Accounting Records

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount in an account

Account balance
Withdrawal
Capital
Liability

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The name given to an account

Accounting Equation
Account Record
Account Title
Financial Statements

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Planning, recording, analyzing, and interpreting financial information 

Accounting Records
Ethics
Accounting Equation
Accounting

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An equation showing the relationship among assets, liabilities, and owner’s equity

Accounting Equation
Accounting Records
Account Title
Capital

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Organized summaries of a business’s financial activities 

Account
Accounting Equation
Accounting Records
Ethics

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A planned process for providing financial information that will be useful to management

Accounting Equation
Accounting Records
Accounting System
Account Title

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