AF Ch 5 Test

AF Ch 5 Test

9th Grade

20 Qs

quiz-placeholder

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AF Ch 5 Test

AF Ch 5 Test

Assessment

Quiz

Other

9th Grade

Practice Problem

Hard

DOK Level 2: Skill/Concept, DOK Level 3: Strategic Thinking

Standards-aligned

Created by

Tony Ruf

Used 2+ times

FREE Resource

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An amount of money taken out of the business by the owner is

Withdrawal

Expense account

Capital

Temporary Account

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

record business income only.

Revenue accounts

Revenue recognition

Permanent accounts

Expense accounts

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

are used to record information for only one accounting period.

Revenue accounts

Expense accounts

Temporary accounts

Permanent accounts

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The account shows the amount of the owner's investment, or equity, in a business.

Expense

Capital

Permanent

Withdrawal

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

are used to record the costs and services used by a business.

Expense accounts

Revenue accounts

Capital

Withdrawal

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Recognizing & recording revenue on the earned date even if cash has not been received is

Capital

Revenue recognition

Withdrawal

Expense account

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A credit to an expense account decreases the account balance

True

False

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