Accounting Equation
Authored by Angelo Horlador
Specialty
11th Grade
Used 9+ times
AI Actions
Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...
Content View
Student View
5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
If a company's total assets are P50,000 and its total liabilities are P20,000, what is the owner's equity?
P70,000
P30,000
P20,000
P50,000
2.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
A business purchases inventory worth P3,000 on credit. How does this transaction affect the accounting equation?
Assets increase by P3,000; Liabilities increase by P3,000
Assets increase by P3,000; Equity decreases by P3,000.
Assets decrease by P3,000; Liabilities decrease by P3,000.
Assets increase by P3,000; Equity increases by P3,000.
3.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
If a company's total liabilities are P25,000 and its owner's equity is P40,000, what is the total value of its assets?
P15,000
P65,000
P25,000
P40,000
4.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
A business owner invests P100,000 of personal savings into his milk tea business. How does this transaction affect the accounting equation?
Assets increase by P100,000; Liabilities decrease by P100,000.
Assets increase by P100,000; Equity increases by P100,000.
Assets decrease by P100,000; Equity increases by P100,000.
Assets increase by P100,000; Liabilities increase by P100,000.
5.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
If a company's total assets are P120,000, and its owner's equity is P80,000, what is the total value of its liabilities?
P40,000
P200,000
P80,000
P120,000
Access all questions and much more by creating a free account
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
Already have an account?
