Bookkeeping

Bookkeeping

10th - 12th Grade

10 Qs

quiz-placeholder

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Bookkeeping

Bookkeeping

Assessment

Quiz

Specialty

10th - 12th Grade

Practice Problem

Medium

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Refer to the resources owned and controlled by an entity and also known as properties or rights owned by the business.

Assets
Liabilities
Revenues
Expenses

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Refer to economic benefits received from business activities; the amount earned in the conduct of business.

Assets
Liabilities
Revenues
Expenses

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Refer to the costs incurred in the conducting business.

Assets
Liabilities
Revenues
Expenses

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Refer to the economic obligations of a business entity.

Assets
Liabilities
Revenues
Expenses

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

It represents advanced payments from customers which requires settlement through delivery of goods or services in the future.

Sales Revenue
Service Revenue
Unearned Revenue
Accrued Revenue

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Assets that are held for sale in the normal operations of the business.

Inventories
Accounts Receivable
Furnitures and Fixtures
Intangibles

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Refer to the costs of compensation to employees for their services to the company.

Taxes and Licenses
Delivery Expense
Training and Development
Salaries and Wages

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