Accounting Terminology
Authored by melinda fernandes
Professional Development
9th - 12th Grade
Used 37+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Accounting records transactions and events of a financial nature only. TRUE OR FALSE?
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This book contains all the accounts of the firm.
Cash Book
Journal
Ledger
Trade Book
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
which of the following is not an account in the analysis and interpretation process?
Trading Account
Profit and Loss account
Balance sheet
Purchase account
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Book-Keeping and accounting are one and the same. TRUE OR FALSE?
TRUE
FALSE
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount the owner has invested on the firm is known as _______________.
capital
funds
income
revenue
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount which the firm owes to outsiders is known as ___________.
money owed
asset
liability
creditor
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Anything which will enable the firm to get cash or a benefit in the future is known as ____________.
Liability
Asset
Capital
Stock
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