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Authored by Natasha Brown

Business

11th Grade

Used 1+ times

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8 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following item is not an asset.

Cash at Bank

Motor Vehicle

Stationery

Inventories

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A Bank Loan is classified as a:

Revenue

Expense

Asset

Liability

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following items would not fall under the definition of an asset ?

Creditors

Debtors

Cash

Machinery

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount spent in order to produce and sell the goods and services which generates income is termed as

Revenue

Loss

Expenses

Liabilities

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Revenues minus expenses equals _____________________.
(Revenues-Expenses = _______________)

Profit
Overhead
Income
None of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An increase in owner's equity resulting from the operation of a business

asset
expense
withdrawl
revenue

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is owner's equity? 

The amount of money the owner's has
The stock options 
The assets 
The assets minus the liabilities of a business 

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