QUIZ 1
Authored by AISYAH NABIHAH MOHD AZLAN
Business
University
Used 16+ times
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10 questions
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1.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
The basic accounting equation for obtaining total assets is
Liability + owner's equity
Current liability + non-current liability
2.
MULTIPLE SELECT QUESTION
1 min • 1 pt
The financial statement that reports the revenue and expenses are
Balance sheet statement
Income statement
Statement of cash slows
3.
MULTIPLE SELECT QUESTION
1 min • 1 pt
The financial statement that reports the assets, liabilities, and equity are
Balance sheet statement
Income statement
Statement of cash flows
4.
MULTIPLE SELECT QUESTION
1 min • 1 pt
Which term is associated with "left" or "left side"?
Debit
Credit
5.
MULTIPLE SELECT QUESTION
2 mins • 1 pt
The accounts shown in the chart of accounts can be classified into two categories: balance sheet accounts and
Income statement account
General ledger
Statement of cash flows
6.
MULTIPLE SELECT QUESTION
2 mins • 1 pt
What is the definition of bookkeeping?
A process of classifying, recording and summarizing business
A provide files tax return
A process of classifying, recording and summarizing business transactions in monetary units and interpreting the financial data of a business in order to assist stakeholders in making decisions.
7.
MULTIPLE SELECT QUESTION
1 min • 1 pt
What is the first steps in the accounting process?
Analysing and interpreting
Summarizing
Recording
Classifying
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