
Ch. 1 Accnt
Authored by Michael Driscoll
Business
11th Grade
Used 1+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Anything of value that is owned =
Asset
Equity
Revenue
Accounting System
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount remaining after the value of liabilities is subtracted from the value of all assets.
Owner's Equity
Ethics
Liability
Account
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The difference between assets and liabilities
Equity
Proprietorship
Equities
Account
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Financial rights to the assets of a business
Equities
Owner's Equity
Assets
Net Worth
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A sale for which cash will be received at a later date
Account Payable
Account Title
Account Balance
Capital Account
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The account used for the owner's equity in a business
capital account
liability
business ethics
expense
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Assets taken out of a business for the owner’s personal use.
Transaction
Investment
Withdrawal
Expense
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