Form 3 POA - The Accounting Equation
Quiz
•
Other
•
10th - 11th Grade
•
Practice Problem
•
Easy
waheeda mohammed
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10 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is an Asset ?
Money the business OWES
Anything the business OWNS which will bring future benefits
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Capital is the same as Owner's Equity or the owner's investment in the business
True
False
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which is an Asset ?
Premises/Land
Loan
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A liability is anything the business OWES
True
False
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which is a Liability ?
Debtors
Creditors
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A Debtor is someone who owes money to the business.
True
False
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which is the correct Accounting Equation ?
Assets + Liabilities = Capital
Assets = Liabilities + Capital
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