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Accounts 3

Authored by Amal Bissessar

Business

8th Grade

Accounts 3
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are examples of Assets?

Cash, investments, real estate, vehicles, equipment, intellectual property

Debt, liabilities, expenses

Patents, trademarks, goodwill

Gold, cryptocurrency, furniture

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Can you provide examples of Liabilities?

Salaries payable, Rent payable, Taxes payable

Accounts Receivable

Equipment

Inventory

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Define Capital in the context of accounts.

Total liabilities of a business

Number of employees in a company

Amount of revenue generated in a year

Financial value of assets owned by a business or individual.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who are Debtors in accounting?

People who invest in a company

Individuals or entities that owe money to a company.

Businesses that sell products to a company

Individuals or entities that lend money to a company

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Explain who Creditors are in accounting.

Creditors are companies that purchase goods from a company.

Creditors are entities that a company owes money to.

Creditors are entities that a company borrows money from.

Creditors are individuals who invest in a company.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the definition of a Balance Sheet?

A Balance Sheet is a report that shows only the revenue of a company

A Balance Sheet is a document that lists all the expenses of a company

A Balance Sheet is a statement that focuses on the marketing strategies of a company

A Balance Sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time, showing assets, liabilities, and shareholders' equity.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Name some common examples of Assets.

Cash, investments, real estate, vehicles, equipment, intellectual property

Buildings, copyrights, loans, bonds

Land, trademarks, debts, stocks

Gold, patents, liabilities, cryptocurrencies

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