GAAP & Financial Accounting

GAAP & Financial Accounting

10th Grade

40 Qs

quiz-placeholder

Similar activities

Pay, Benefits, and Working Conditions (FL1)

Pay, Benefits, and Working Conditions (FL1)

9th - 12th Grade

35 Qs

Virtual Business Challenge - Management

Virtual Business Challenge - Management

9th - 12th Grade

42 Qs

Fin Lit 2 Test Review

Fin Lit 2 Test Review

9th - 12th Grade

39 Qs

Business Management- Chapter 15 Review

Business Management- Chapter 15 Review

9th - 12th Grade

38 Qs

Chapter 14: Presenting the Product

Chapter 14: Presenting the Product

9th - 12th Grade

44 Qs

Chapter 16 Review:  Managing Information Technology

Chapter 16 Review: Managing Information Technology

9th Grade - University

36 Qs

Money Matters - Chapter 3 Review

Money Matters - Chapter 3 Review

10th - 12th Grade

45 Qs

ESB Vocabulary Quiz #4

ESB Vocabulary Quiz #4

9th - 12th Grade

38 Qs

GAAP & Financial Accounting

GAAP & Financial Accounting

Assessment

Quiz

Business

10th Grade

Practice Problem

Medium

Created by

Nidhi Raval

Used 63+ times

FREE Resource

AI

Enhance your content in a minute

Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...

40 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Accounting entries involve a minimum of how many accounts?

1

2

3

4

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

common set of accounting rules and procedures; needed in accounting to maintain accuracy and consistency of financial reports

IRS laws

financial reporting

Generally accepted accounting practices (GAAP)

disclosure principle

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

all information which is relevant to financial statement must be included in the financial statement

cost principle

disclosure principle

reliability principle

GAAP

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

assumption a company intends to continue operations

matching principle

disclosure principle

going concern principle

reliability principle

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An amount owed by a business.

Asset

Liability

Equity

Revenue

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Anything of value that is owned.

Asset

Liability

Capital

Creditor

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The time period covered by an accounting report is called....

accounting period
going concern

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?