
Principles of Accounts
Authored by ed jarrett
Business
9th - 12th Grade

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32 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Identify the categories of accounts found on the balance sheet.
Assets, liabilities, capital
Expenses, liabilities, income
Financed by, expenses, revenue
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
All are examples of current assets except
bank
debtors
loans
inventory
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The term current assets refer to assets that are likely to change
6 months
2 years
3 months
1 year
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the correct order for current assets in the balance sheet?
cash, bank, debtors, stock
stock, debtors, bank, cash
stock, bank, cash, debtors
debtors, stock, bank, cash
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which one is right?
Asset = Owner's equity + Liability
Asset = Owner's equity - Liability
Asset + Owner's equity = Liability
Asset + Owner's equity = expense
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which one is not belongs to liability?
Mobile Phone Bill
Bank Loan
Bank Balance
Owed To Friends
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Accounting is
recording anything that happens in the business
recording the business transactions
recording, analyzing and interpreting the business transactions
recording, summarizing, analyzing and interpreting the business transactions
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