Acc Concepts

Acc Concepts

7th Grade

10 Qs

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Acc Concepts

Acc Concepts

Assessment

Quiz

Business

7th Grade

Practice Problem

Medium

Created by

Lauren Seaman

Used 13+ times

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10 questions

Show all answers

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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