Accounting Basics

Accounting Basics

9th - 12th Grade

17 Qs

quiz-placeholder

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Accounting Basics

Accounting Basics

Assessment

Quiz

Other

9th - 12th Grade

Medium

Created by

Quizizz Content

Used 25+ times

FREE Resource

17 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Assets are $50,000. Liabilities are $12,000. What is Owner's Equity?

$38,000

$62,000

None of the Choices

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

An accounting device used to analyze transactions

T-Account

Debit

Credit

Chart of Accounts

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Assets are $120,000. Owner's Equity is $95,000. What is the Liability?

$215,000

$25,000

None of the Choices

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The amount remaining after the value of all liabilities is subtracted from the value of all assets.

Accounting

Asset

Liability

Owner's Equity

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

An amount recorded on the left side

T-Account

Debit

Credit

Chart of Accounts

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What type of account is Accounts Payable?

Asset

Liability

Owner's Equity

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What type of account is Cash?

Asset

Liability

Owner's Equity

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