
Accounting 1 Unit 1 Review
Authored by Brett Webb
Life Skills
10th - 12th Grade
Used 75+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a __________ people are free to produce the goods and services they choose.
Free Enterprise System
Marketing System
Collaboration
None
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Capital?
A main city in a state.
The first big letter in a sentence.
None.
Money to start up a business.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The three types of business operations are Service, Merchandising, and ________.
Entrepreneur
Manufacturing
Sole Proprietorship
Partnership
4.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
The three forms of a business organization are:
Partnership
Sole Proprietorship
Manufacturing
Corporation
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An advantage of a Partnership is that it's easy to start.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
One purpose of accounting is to analyze what is profitable in a business.
True
False
7.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
The basic GAAP Assumptions are: (choose 3)
Accounting
Business Entity
Going Concern
Time Period
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