Balance sheet
Business
Professional Development
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10 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Another name for the balance sheet is
Statement Of Operations
Statement Of Financial Position
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The balance sheet heading will specify a
Period Of Time
Point In Time
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which of the following is a category or element of the balance sheet?
Expenses
Gains
Liabilities
Losses
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which of the following is an asset account?
Accounts Payable
Prepaid Insurance
Unearned Revenue
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which of the following is a contra account?
Accumulated Depreciation
Capital
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What is the normal balance for an asset account?
debit
credit
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What is the normal balance for liability accounts?
debit
credit
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