Accounting transactions

Accounting transactions

11th - 12th Grade

25 Qs

quiz-placeholder

Similar activities

T Accounts Review

T Accounts Review

Accounting Basic Review 1

Accounting Basic Review 1

Accounting Q1 Review

Accounting Q1 Review

Debits & Credits

Debits & Credits

Accounting Chapter 1

Accounting Chapter 1

Accounting - Analyzing Transactions Review

Accounting - Analyzing Transactions Review

Accounting transactions

Accounting transactions

Assessment

Quiz

Business

11th - 12th Grade

Medium

Created by

Priscilla Ross

Used 5+ times

FREE Resource

AI

Enhance your content in a minute

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

25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does GAAP stand for ?

General account accuracy principles

General accepted accounting principles

General accountants account property

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Credit purchases of inventory are recorded in which journal?

Cash receipts journal

Cash payments journal

Credit purchases journal

Credit sales journal

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Accounts payable are known as the

Customers

Friends

Suppliers

Employees

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A __________ amount will appear on the left side of a T-account.

Credit

Debit

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An Asset is:

Refers to items that are owned

Refers to amounts that are owed to others

Refers to amounts earned

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Complete the following statement .Assets=....

Owners equity +liabilities

Bank + Owners equity

Liabilities +Bank

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

 What two accounts are involved when you receive cash from owner as an investment?

cash and capital
cash and investment
cash and owner's equity
cash and supplies

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?