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Week 4 Finance Quiz

Authored by Nicole Chuchmach

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Professional Development

Used 3+ times

Week 4 Finance Quiz
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7 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount owed to a business by its customers

Accounts Payable

Note Payable

Accounts Receivables

Liability

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Property, plant and equipment are fixed assets that are not intended to be sold to customers

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Gift cards are an example of unearned revenue

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Increasing owner's withdrawals increases owner's equity

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Nicole deposited $10,000 into her event company. What statement is correct?

Owner's Equity would be debited

Owner's Equity would be credited

Cash would be credited

No change to cash

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Nicole purchased $2,000 worth of food for her catering company. What statement is true?

Food inventory is debited

Food inventory is credited

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Nicole paid $10,000 cash for furniture and equipment for her catering company. What statement is true.

Cash is debited

Cash is credited

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