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Accty - Ch. 1 Review

Authored by Mike Meyer

Business

10th - 12th Grade

Used 1+ times

Accty - Ch. 1 Review
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12 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The amount in an account

account title

account balance

balance sheet

account

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Anything of value that is owned

liability

equity

asset

owner's equity

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Financial rights to the assets of a business

capital

owner's equity

equities

asset

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The accounting equation is:

Assets + Liabilities = Owner's Equity

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

An amount owed by a business

capital

owner's equity

liability

asset

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A planned process for providing financial information that will be useful to management.

accounting system

accounting equation

accounting

accounting record

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Planning, recording, analyzing, and interpreting financial information

accounting system

accounting records

marketing

accounting

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