The Balance Sheet

The Balance Sheet

9th - 12th Grade

25 Qs

quiz-placeholder

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The Balance Sheet

The Balance Sheet

Assessment

Quiz

Business

9th - 12th Grade

Medium

Created by

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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