Unit 6 Business Finance
Quiz
•
Business
•
12th Grade
•
Hard

Heather Demers-Keller
Used 9+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An example of a liquid asset is
Inventory
Real estate
Money in the bank
A piece of equipment
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
GAAP can be described as
standards that are written and regulated by the government
legally required that all companies meet GAAP standards
Companies that meet GAAP standards usually use cash basis accounting
GAAP recommends accrual basis accounting
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Regarding accounting equations, assets are equal to two things
Debits + equity
Debits + accounts
Liabilities + equity
Liabilities + accounts
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The costs of running a business are called
Startup costs
Cash flow
Operating expenses
Fixed costs
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If you wanted to make sure a company has enough money available to pay its bills, which financial statement would be most helpful?
Balance sheet
Income statement
Statement of owners' equity
Cash flow statement
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If you want to know whether a company had a profit or a loss during a specific period of time, which financial statement would be most helpful?
Statement of owners' equity
Cash flow statement
Balance sheet
Income statement
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If your company uses accrual basis accounting, what do you need to pay special attention to?
Money the company owes
Money that is owed to the company
Cash flow
Revenue
Create a free account and access millions of resources
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple

Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?
Similar Resources on Wayground
13 questions
Fundamentals of ABM 1 Quiz 1 (Sir Kevin)
Quiz
•
12th Grade
15 questions
QUIZ 4 : ACCOUNTING CYCLE
Quiz
•
1st Grade - University
12 questions
What is Accounting? 1.4.3
Quiz
•
8th Grade - University
8 questions
Books of original entry - recording credit purchases
Quiz
•
10th - 12th Grade
10 questions
Fundamentals of Accounting Theory
Quiz
•
12th Grade
15 questions
ACCTG 26 Cash and Cash Equivalents, Bank Reconciliation
Quiz
•
12th Grade
9 questions
FP11 3.05 Explain legal considerations for accounting.
Quiz
•
12th Grade
11 questions
Accounting Principles & Accounting Equation
Quiz
•
11th Grade - University
Popular Resources on Wayground
20 questions
Brand Labels
Quiz
•
5th - 12th Grade
10 questions
Ice Breaker Trivia: Food from Around the World
Quiz
•
3rd - 12th Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
20 questions
ELA Advisory Review
Quiz
•
7th Grade
15 questions
Subtracting Integers
Quiz
•
7th Grade
22 questions
Adding Integers
Quiz
•
6th Grade
10 questions
Multiplication and Division Unknowns
Quiz
•
3rd Grade
10 questions
Exploring Digital Citizenship Essentials
Interactive video
•
6th - 10th Grade