The Balance Sheet

Quiz
•
Business
•
9th - 12th Grade
•
Medium
Lauren Stillwell
Used 9+ times
FREE Resource
25 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
A balance sheet has four sections: 1) heading 2) assets 3) liabilities and 4) ___________
Debits
Income Statement
Owner’s Equity
Credits
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
How do we calculate Total Assets?
Fixed Assets - Current Assets
Current Assets / Current Liabilities
Long term Assets - Current Liabilities
Long term Assets + Current Assets
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Accounts Payable is a:
Long Term Liability
Current Asset
Current Liability
Long Term Asset
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Accounts Receivable is a:
Long Term Liability
Long Term Asset
Current Liability
Current Asset
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
A building is a:
Long Term Liability
Long Term Asset
Current Liability
Current Asset
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
A mortgage is a:
Long Term Liability
Long Term Asset
Current Liability
Current Asset
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
A cash register is a:
Long Term Liability
Long Term Asset
Current Liability
Current Asset
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