
Accounting Basics
Quiz
•
Business
•
9th - 12th Grade
•
Medium
Kim Goff
Used 1+ times
FREE Resource
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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The overall purpose of accounting is to
maintain accurate reports.
compile the business’s expenses.
keep track of sales.
control the finances of the business.
2.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
What are the two elements of income statement?
income/revenue
Expenses
Liabilities
Owner's Equity
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which of the following is considered an asset?
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is considered a liability?
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The financial statement that reports the revenues and expenses for a period of time such as a year or a month is the:
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The financial statement that reports the assets, liabilities, and stockholders' (owner's) equity at a specific date is the:
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Accounting entries involve a minimum of how many accounts?
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