POA - 4th

POA - 4th

10th Grade

10 Qs

quiz-placeholder

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POA - 4th

POA - 4th

Assessment

Quiz

Business

10th Grade

Practice Problem

Hard

Created by

Shanice Griffiths

Used 29+ times

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following statements is incorrect?

Asset + Capital = Liabilities

Capital = Assets - Liabilities

Liabilities + Capital = Assets

Liabilities = Assets - Capital

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not an sset?

Cash at bank

Premises

Stock

Creditors

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a liability?

Buildings

Debtors

Loan from J. Henry

Equipment

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is incorrect?

Asset Liability Capital

$18270 $5,290 $12,980

Asset Liability Capital

$ 9,340 $3,120 $6,220

Asset Liability Capital

$15,160 $6,380 $7,780

Asset Liability Capital

$12,230 $1,390 $10,840

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best describes the meaning of 'Sales'?

Items sold for cash or on credit

Assets sold on credit

The items bought previously

Sale of items previously included in 'Purchases'

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following should not be called 'Purchases'?

Purchase of a motor van for use by a business

Goods bought on credit

Goods bought for cash

Items bought for the prime purpose of resale

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is correct?

Capital is reduced by loss

Profit does not affect capital

If there is no profit there is no capital

A loan received will reduce capital

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