
U2L5b BW Intro to Bus
Authored by Darek Tillman
Business
9th - 12th Grade
Used 5+ times

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7 questions
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1.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Which one is right?
Asset = Owner's equity + Liability
Asset = Owner's equity - Liability
Asset + Owner's equity = Liability
Asset + Owner's equity = expense
2.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
... are what a company owes.
assets
liabilities
equities
profits
3.
MULTIPLE CHOICE QUESTION
3 mins • 5 pts
What is a balance sheet?
A financial statement
An annual overview
A bank slip
All of these
4.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Define Accounting
the process of recording, analyzing, and interpreting the economic activities of a business
A method of recording all transactions for a business in a specific format
bills for goods and services either bought by or sold to the business
A financial statement that shows the financial position of a business on a single, specific date.
5.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
A balance sheet has four sections: 1) heading 2) assets 3) liabilities and 4) ___________
Debits
Income Statement
Owner’s Equity
Credits
6.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
How are Assets organized within their respective column?
Most to least liquid
At random
Least to most liquid
Greatest to least price
7.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Which of these does a balance sheet show?
How much gross profit a business made
Its total revenue
How much it paid in rent
What a business owns and owes
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