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accounting cycle

Authored by sanni siahaan

Business

9th - 12th Grade

Used 84+ times

accounting cycle
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The owner invest to the business.

Assets (I)

Liabilities (D)

Equity (D)

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

It is a financial statement that reports the assets, liabilities, and equity of a company on a given date.

Statement of Income

Statement of Financial Position

Statement of Cash Flow

Statement of Changes in Equity

3.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

What are the two elements of income statement?

income/revenue

Expenses

Liabilities

Owner's Equity

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What business own?

Liability

Asset

Property

Net Worth

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Assets = Liabilities +...................

owners equity

profit

loss

assets

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Examples of fixed assets in Regent School Secondary include:

Building

teachers

students

school fees

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which of the following is considered an asset?

Bank Loan
Mortgage
Debit Card
Savings account

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