
Accounting Chapter 9
Quiz
•
Specialty
•
9th - 12th Grade
•
Medium
Alisha Gray
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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The source of information for completing the income statement
income statement section of the balance sheet
income statement
balance sheet
all of these
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Financial statement that reports the net income or net loss for the fiscal period it covers is the
income statement
balance sheet
changes in equity
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The classification of balance sheet accounts are shown one under another in the report form.
true
false
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Reports prepared to summarize the changes resulting from business transactions that have occurred during a fiscal period are called
financial statements
currents assets
finances
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Financial statement that is prepared to summarize the effects on the capital account of the various business transactions that occurred during the fiscal period is called
statement of changes in owners equity
statement of changes
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This occurs when total revenue is greater than total expenses
net income
net loss
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount by which current assets exceed current liabilities is known as
working capital
capital
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