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FABM1 REVIEW QUIZ

Authored by Jessa Naquimen

Specialty

11th - 12th Grade

Used 19+ times

FABM1 REVIEW QUIZ
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20 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What do you call the certificate of indebtedness under the seal of the corporation?

Loans Payable

Accounts Payable

Bonds

Interest Payable

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

It includes coins, currencies, checks, bank deposits, and other cash items readily available for use in the operations of the business

Monetary Value

Cash

Cash Equivalents

Income

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Debts arising from the acquisition of the business of services or products on account.

Accounts Payable

Notes Payable

Utilities Payable

Unearned Revenue

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Liability arising from the amount of money borrowed by the business either from a bank or from any financial institution.

Loans Payable

Accounts Payable

Interest Expense

Interest Payable

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An obligation to pay utility companies for services received from them.

Utilities Expense

Accrued Expense

Utilities Payable

Prepaid Expense

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Long-term debt of the business with security or collateral in the form of real properties.

Loans Payable

Mortgage Payable

Interest Payable

Unearned Revenue

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This represents the withdrawals made by the owner of the business in cash or other assets.

Capital

Income

Expenses

Drawing

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