Accounting Equation
Authored by Shauna-Kay Herah
Business
2nd Grade
CCSS covered
Used 83+ times
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24 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Accounting Equation must always be in balance?
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Assets
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Supplies purchased on account that will be paid for at a later date is a liability.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The company purchases equipment with its cash
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
If the total liabilities is P 15, 000 and the total assets is P 23,000, what is the total equity using the accounting equation?
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In what accounting element can we classify INVENTORIES?
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What account type is the cash account?
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