Accounting Basics
Quiz
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Other
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University
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Practice Problem
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Hard

Jessica Pontus
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15 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The financial statement that reports the revenues and expenses for a period of time such as a year or a month is the:
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Resources owned by a company (such as cash, accounts receivable, vehicles) are reported on the balance sheet and are referred to as __________.
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Obligations (amounts owed) are reported on the balance sheet and are referred to as __________.
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Revenues minus expenses equals:
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The accounting equation is
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Accrual concept is based on :
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
which category does depreciation fall under in the accounting equation?
assets
owners equity
liability
expense
imputed expense
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