Analyzing Transactions in Accounting
Authored by Donna Morgese
Business
9th - 12th Grade
Used 57+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The normal balance of an account is always on the...
Left side
Right side
side that is increasing
side that is decreasing
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the asset account balance is $250,000 and the liabilities account balance is $50,000. What is the owner's equity balance? (ALOE)
$25,000
$200,000
$50,000
$300,000
3.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
A chart of accounts is a list of all accounts in a business.
True
False
4.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Is this Cash in Bank balance correct?
Yes
No
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Accountants use what kind of system to analyze and record transactions?
Google sheets
Journal
Double entry accounting
Artificial Intelligence
6.
FILL IN THE BLANKS QUESTION
1 min • 1 pt
Assets = (a) + Owner's Equity
7.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Accounts Payables are Liabilities?
True
False
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