Kuis Persmaan dasar akuntansi

Maria is studying the fundamental accounting equation. She knows that the equation is represented as $$Assets = Liabilities + Equity$$. If Maria has assets worth $10,000 and liabilities of $4,000, what is her equity?

• $6,000

• $4,000

• $10,000

• $14,000

John runs a small business and has the following financial information: total assets of $50,000 and total liabilities of $20,000. What is the equity of John's business?

• $30,000

• $20,000

• $50,000

• $70,000

In a financial statement, which of the following is NOT considered an asset?

• Cash

• Inventory

• Accounts Payable

• Equipment

Samantha is preparing her financial statements. She knows that the balance sheet shows the financial position of a company at a specific point in time. Which of the following is included in the balance sheet?

• Revenue

• Expenses

• Assets

• Cash Flow

Tom's company has total liabilities of $15,000 and total equity of $25,000. What are the total assets of Tom's company?

• $10,000

• $25,000

• $40,000

• $15,000

Which of the following statements is true regarding the accounting equation?

• It can be rearranged to show that Equity = Assets - Liabilities.

• It only applies to corporations.

• It does not include cash.

• It is only relevant for financial statements.

Emily is analyzing her company's financial statements. She notices that her liabilities have increased while her assets have remained the same. What will happen to her equity?

• It will increase.

• It will decrease.

• It will remain the same.

• It will double.

Which of the following is a primary purpose of financial statements?

• To calculate taxes owed

• To provide information about the financial position and performance of a business

• To determine employee salaries

• To manage inventory levels

If a company has total assets of $100,000 and total liabilities of $60,000, what is the company's equity?

• $40,000

• $60,000

• $100,000

• $160,000

Which of the following financial statements provides a summary of revenues and expenses over a specific period?

• Balance Sheet

• Income Statement

• Cash Flow Statement

• Statement of Changes in Equity