Beginning Accounting

Beginning Accounting

9th - 12th Grade

16 Qs

quiz-placeholder

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Beginning Accounting

Beginning Accounting

Assessment

Quiz

Life Skills

9th - 12th Grade

Practice Problem

Medium

Created by

Julia Sharkey

Used 71+ times

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16 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are for-profit businesses

Operate for reasons other than making a profit

Make a lot of money

Operate to make money

Don't make a lot of money

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does CPA stand for?

Certified Professional Accountant

Certified Public Accountant

Credited Public Accountant

Certified Proficient Accounting

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an audit?

When the company gets in trouble with government

When the company checks its revenue streams

A review of the company's accounting systems

When the company operates at a loss

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a free enterprise system?

When people are free to operate the businesses they choose to

When the government tells you what you can sell

When society decides what you can and can't sell

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does profit mean?

The amount of money the business brings in

The amount of money left over after operating expenses are paid

How much money the owner makes

Money made from company sales

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does operating at a loss mean?

Profits are low

No one knows what they're doing

The company spends more money than they make

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is capital?

The largest city in a state

Washington D.C

Money investors, owners, or banks supply

The cash a company has on hand

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