Corporation

Corporation

University

10 Qs

quiz-placeholder

Similar activities

Accounting Transactions Quiz

Accounting Transactions Quiz

9th Grade - University

10 Qs

Lecture 3 Sept 2023 Set A

Lecture 3 Sept 2023 Set A

University

10 Qs

Liabilities & Owner's Equity

Liabilities & Owner's Equity

University

10 Qs

Basic Accounting 1

Basic Accounting 1

University

10 Qs

Basic accounting equation

Basic accounting equation

University

10 Qs

Introduction to Finance and Accounting Workshop 1

Introduction to Finance and Accounting Workshop 1

University

10 Qs

Accounting terminologies

Accounting terminologies

University

15 Qs

Stmt of Profit / Loss Feb 2020

Stmt of Profit / Loss Feb 2020

University

7 Qs

Corporation

Corporation

Assessment

Quiz

Business

University

Medium

Created by

Tessa Vanina

Used 16+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which equation is correct ?

Assets+Liabilities=Equity

Assets=Liabilities+Equity

Assets+Equity=Liabilities

Assets+Liabilities=Capital

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is normal balance of Account Receivable ?

Debit

Credit

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Journal entries for : Paid monthly rent

Dr. Cash

Cr. Rent Expense

Dr. Prepaid Rent

Cr. Rent Expense

Dr. Rent Expense

Cr. Cash

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Purchase Land for $32,000 on account

Dr. Land

Cr. Accounts Payable

Dr. Land

Cr. Cash

Dr. Land

Cr. Accounts Receivable

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the normal balance of Sales ?

Debit

Credit

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Sales minus Cost of Good Sold equal with

Net Income

Gross Margin

Operating Income

Net Loss

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which one is the most liquid assets ?

Account Receivable

Machinery

Inventories

Land

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?