Accounting Reviewer

Accounting Reviewer

10th Grade

15 Qs

quiz-placeholder

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Accounting Reviewer

Accounting Reviewer

Assessment

Quiz

Others

10th Grade

Easy

Created by

KARL VINCE PEREZ

Used 3+ times

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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of accounting?

To conduct market research

To manage human resources

To provide entertainment

To provide financial information about a business

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a party involved in accounting?

Manufacturers

Employees

Government

Investors

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does double-entry bookkeeping involve?

Recording transactions in at least two accounts

Recording transactions without any classification

Recording transactions in one account

Only recording cash transactions

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a financial statement?

A document for tax purposes

A snapshot of a corporation’s financial health

A report on employee performance

A summary of marketing strategies

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT one of the four main types of financial statements?

Cash Flow Statement

Income Statement

Sales Report

Balance Sheet

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the accounting equation state?

Assets = Equity - Liabilities

Assets + Liabilities = Equity

Assets = Liabilities + Equity

Assets = Liabilities + Revenue

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of a balance sheet?

To analyze market trends

To manage inventory

To track employee performance

To assess financial health

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