ACCOUNTING EQUATION
Authored by ARA BALOLONG
Mathematics
11th Grade
Used 2K+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The owner invests personal cash in business.
Asset (I)
Liabilties (I)
Equity (NE)
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The owner withdraws business assets for personal use.
Assets (I)
Liabilities (D)
Equity (D)
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The company receives cash from a bank loan
Assets (I)
Liabilities (D)
Equity (D)
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The company repays the bank that had lent money
Assets (I)
Liabilities (D)
Equity (D)
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The company purchases equipment with its cash
Assets (NE)
Liabilities (I)
Equity (I)
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The owner contributes her personal truck to the business
Assets (NE)
Liabilities (NE)
Equity (D)
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The company purchases supplies on credit
Assets (I)
Liabilities (NE)
Equity (I)
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