Accounting

Accounting

10th Grade

10 Qs

quiz-placeholder

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Accounting

Accounting

Assessment

Quiz

Education

10th Grade

Practice Problem

Medium

Created by

WY Chan

Used 25+ times

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10 questions

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1.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Which of the following are Assets?

Bank Account

Bank Loan

Vehicles

Bank overdraft

Furniture and fittings

2.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

The following are liabilities .

Bank Loan

Stock / inventory

Mortgage

Accounts Payable

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the business is owed money it is called

Accounts Receivable

Account Payable

4.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

The following are expenses

Insurance

Salaries

Sales

Fees Received

Petrol

5.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

The following are types of Income

Sales

Fees Received

Salaries

Staff Wages

Advertising

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the owner takes money out the business for personal use it is called

Drawings

Withdrawal

Investment

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Assets - Liabilities = Equity

TRUE

FALSE

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