
Accounting 1-1 Quiz
Authored by Laura Storino
Business
9th - 12th Grade
Used 3+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Accounting is the same as bookkeeping.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Accounting is used to make informed business decisions.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Anything that is owed
Asset
Liability
Owner's Equity
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Anything of value that is owned
Asset
Liability
Owner's Equity
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The difference between assets and liabilities
Asset
Liability
Equity
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which formula is used to determing an individual's net worth (equity)
Assets-Liabilities
Assets + Liabilities
Assets x Liabilities
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A piece of jewelry is an
Asset
Liability
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