Affected Accounts by the Business Transactions
Authored by DG M
Other, Business
10th - 12th Grade
Analyzing business transactions covered
Used 13+ times
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13 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Miss P opened her business, "P's Accounting Service" in the month of March 2018 and invested PhP30,000 cash in the business. Which accounts affected?
Asset & Equity
Liability & Asset
Asset & Revenue
Asset & Expense
Tags
Analyzing business transactions
accounting
business transaction
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Paid local business permit in the amount of PhP4,000 cash.
Asset & Equity
Liability & Asset
Asset & Revenue
Asset & Expense
Tags
Analyzing business transactions
accounting
business transaction
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Purchased office furniture worth PhP25,000 and office equipment worth PhP40,000.
Asset & Equity
Liability & Asset
Asset & Revenue
Asset & Expense
Tags
Analyzing business transactions
accounting
business transaction
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Received PhP8,000 cash from Miss Sharon Soledad for tax services.
Asset & Equity
Liability & Asset
Asset & Revenue
Asset & Expense
Tags
Analyzing business transactions
accounting
business transaction
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Received PhP15,000 cash from client for internal revenue compliance.
Asset & Equity
Liability & Asset
Asset & Revenue
Asset & Expense
Tags
Analyzing business transactions
accounting
business transaction
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Purchased office equipment from Gilmore Computer Supply amounting to 25,000 on account
Asset & Equity
Asset & Liability
Asset & Revenue
Asset & Expense
Tags
Analyzing business transactions
accounting
business transaction
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Paid utilities PhP12,000 in cash.
Asset & Equity
Asset & Liability
Asset & Revenue
Asset & Expense
Tags
Analyzing business transactions
accounting
business transaction
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