KEEP CALM AND WA2 (3E) PART 3

KEEP CALM AND WA2 (3E) PART 3

12th Grade

10 Qs

quiz-placeholder

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KEEP CALM AND WA2 (3E) PART 3

KEEP CALM AND WA2 (3E) PART 3

Assessment

Quiz

Business

12th Grade

Practice Problem

Medium

Created by

norsiahsemuni norsiahsemuni

Used 2+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

NOT an asset

PREPAID rental expense

commission income RECEIVABLE

cash in hand

trade PAYABLE

2.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

rental income RECEIVED IN ADVANCE

current ASSET

current

LIABILITY

3.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

cash PAID - PREPAID = expenses INCURRED

True

False

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

NOT a liability

rent expense PAYABLE

trade

PAYABLE

rental income RECEIVABLE

commission income RECEIVED IN ADVANCE

5.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

cash RECEIVED - received in advance = income EARNED

TRUE

FALSE

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

cash RECEIVED - RECEIVABLE = income EARNED

TRUE

FALSE

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

REVERSAL entry for BEGINNING PREPAID rental expense

DR rental expenses

CR rental expense

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