Accounting Quiz

Accounting Quiz

9th Grade

5 Qs

quiz-placeholder

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Assessment

Quiz

Business

9th Grade

Practice Problem

Hard

Created by

Odis Gadson

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5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of an accountant?

The process of keeping financial records

An individual who has specialized training in accounting procedures

A financial summary that captures the financial condition of the business at that particular moment

The total value of the business

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the balance sheet represent in financial statements?

A summary of accounting information

A financial statement that captures the financial condition of the business at that particular moment

The amount an owner has invested in the business plus or minus profits and losses

A financial summary that shows how much money the business has made or has lost

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who are considered internal users of financial information?

Customers, lenders, investors, and tax authorities

People within the business who use financial information – owners, managers, and employees

Debts that the business owes

The total value of the business

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of the income statement?

To show the financial condition of the business at a particular moment

To display the amount an owner has invested in the business

To summarize how much money the business has made or has lost

To report the difference in total assets and total liabilities

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does net worth indicate in a business context?

The amount an owner has invested in the business plus or minus profits and losses

The financial condition of the business at a particular moment

The total value of the business

The debts that the business owes