Intro to Business- Accounting

Intro to Business- Accounting

9th - 12th Grade

16 Qs

quiz-placeholder

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Intro to Business- Accounting

Intro to Business- Accounting

Assessment

Quiz

Life Skills

9th - 12th Grade

Easy

Created by

Ariel Velasquez

Used 1+ times

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16 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Anything of value that is owned, such as cash and buildings

account

assets

withdrawal

expense

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Income earned for the period, such as from the sale of goods and services.

asset

expense

withdrawl

revenue

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

________ claims against assets(accounts payable, loans, etc)?

assets

liabilities

owners equity

vehicles

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the correct formula for the accounting equation?

Revenue+Assets=Liabilities

Capital+Assets=Liabilities

Liabilities+Capital=Assets

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Amount to be paid in the future for goods or services already acquired

Accounting Equation

Accounts Payable

Accounts Receivable

Merchandise Inventory

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Amount to be received in the future due to sale of goods or services.

Accounting Equation

Accounts Payable

Accounts Receivable

Merchandise Inventory

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The goods a business has on hand for sale to customers

Accounting Equation

Accounts Payable

Accounts Receivable

Merchandise Inventory

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