
Acc Concepts
Quiz
•
Business
•
7th Grade
•
Practice Problem
•
Medium
Lauren Seaman
Used 13+ times
FREE Resource
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The person who starts a business is known as:
The owner
A debtor
A creditor
A business
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
People who owe the business money:
Debtors
Creditors
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
People to whom the business owes money to:
Debtors
Creditors
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Money that the owner provides to start the business:
Drawings
Capital
Owner's equity
Transactions
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Money that the owner takes for personal use:
Drawings
Capital
Owner's equity
Transactions
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True or false:
Stationery is an expense to the business
True
False
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Money used to make small payments
Petty cash
Cash float
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