First Quarter Finals - Accounting

First Quarter Finals - Accounting

12th Grade

30 Qs

quiz-placeholder

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First Quarter Finals - Accounting

First Quarter Finals - Accounting

Assessment

Quiz

Business

12th Grade

Practice Problem

Hard

Created by

shiela bautista

Used 21+ times

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30 questions

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1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Classify this account.


Jane Nitre’s Capital

Current Asset

Current Liability

Capital

Noncurrent Asset

Noncurrent Liability

2.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Classify this account.


Five-year Lease

Current Asset

Current Liability

Capital

Noncurrent Asset

Noncurrent Liability

3.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Classify this account.


Equipment

Current Asset

Noncurrent Asset

Current Liability

Noncurrent Liability

Capital

4.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

What account is a Current Asset?

MERCHANDISE INVENTORY

LAND

AUTOMOBILE

EQUIPMENT

5.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Accounts Receivable is a noncurrent asset.

TRUE

FALSE

6.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

True or False: Cash is a current asset.

TRUE

FALSE

7.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

These are the controlled resources resulted from past transactions and events in which are expected to have economic benefits that flow in the business.

Assets

Liabilities

Capital

Revenue

Expenses

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