
Accounting (Chapters 1 - 3 Review)
Authored by Erin Niebrugge
Business
10th - 12th Grade
Used 4+ times

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65 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Financial rights to the assets of a business are called
ethics
withdrawals
accounting records
equities
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Anything of value that is owned
account
asset
withdrawal
expense
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The account used to summarize the owner's equity in a business
asset
expense
capital
revenue
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Financial reports that summarize the financial condition and operations of a business
financial statements
ethics
withdrawals
equities
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Assets taken out of a business for the owner's personal use
capital
withdrawals
equities
revenue
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Planning, recording, analyzing, and interpreting financial information
accounting
ethics
transaction
revenue
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
A decrease in owner's equity resulting from the operation of a business
account
capital
asset
expense
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