Accounting #1

Accounting #1

11th - 12th Grade

15 Qs

quiz-placeholder

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Accounting #1

Accounting #1

Assessment

Quiz

Life Skills

11th - 12th Grade

Hard

Created by

Heather Garvey

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Accounting is a process of recording, classifying, summarising and interpreting business activities for

performance evaluation.

decision making.

disburse salary.

investment.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Followings are internal users of accounting information EXCEPT

manager

owner

creditor

employee

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Sole proprietorship is a business owned and managed by

two to twenty individuals

one individual

unlimited members

one to fifty individuals

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Complete the following statement .Assets=....

Owners equity +liabilities

Bank + Owners equity

Liabilities +Bank

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A __________ amount will appear on the left side of a T-account.

Credit

Debit

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Assets taken out of a business for the owner's personal use
capital
withdrawals
equities
revenue

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Planning, recording, analyzing, and interpreting financial information
accounting
ethics
transaction
revenue

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