Bookkeeping

Bookkeeping

11th Grade

10 Qs

quiz-placeholder

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Bookkeeping

Bookkeeping

Assessment

Quiz

Other

11th Grade

Practice Problem

Hard

Created by

Lenita Margate

Used 42+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

5 sec • 1 pt

Which is not an asset?

a. cash

b. inventory

c. loans payable

d. vehicle

2.

MULTIPLE CHOICE QUESTION

5 sec • 1 pt

Who is the Father of Modern Accounting?

a. Luca Paciolli

b. Lucca Pacioli

c. Luca Pacioli

d. Luca Pacilli

3.

MULTIPLE CHOICE QUESTION

5 sec • 1 pt

The bookkeeping system used up to today is called ____________.

a. Single-bookkeeping

b. Debit-credit bookkeeping

c. Double-line bookkeeping

d. Double-entry bookkeeping

4.

MULTIPLE CHOICE QUESTION

5 sec • 1 pt

If you purchased a land in account,

a. Liabilities increase, assets decrease

b. Debit-credit bookkeeping

c. No effect

d. Assets increase, liabilities increase

5.

MULTIPLE CHOICE QUESTION

5 sec • 1 pt

The accounting equation is defined as

a. Assets = Liabilities - Equity

b. Assets = Liabilities + Equity

c. Assets + Liabilities = Equity

d. Assets + Liabilities - Equity

6.

MULTIPLE CHOICE QUESTION

5 sec • 1 pt

What is the nationality of the Father of Modern Accounting?

a. Italian

b. Russian

c. French

d. British

7.

MULTIPLE CHOICE QUESTION

5 sec • 1 pt

Which is an equity account?  a.       Loan payable b.       Inventory c.       Petty cash d.       Owner’s drawings

a.       Loan payable

b.       Inventory

c.       Petty cash

d.       Owner’s drawings

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