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Chapter 3 - Analyzing Business Transactions

Business

9th - 12th Grade

Used 3+ times

Chapter 3 - Analyzing Business Transactions
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30 questions

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1.

FILL IN THE BLANK QUESTION

1 min • 1 pt

A business transaction always affects at least __ accounts.

2.

DROPDOWN QUESTION

1 min • 1 pt

The accounting equation is

​ (a)   ​ (b)   ​ (c)   ​ (d)   ​ (e)  

Assets
=
Liabilities
+
Owner's Equity
-
*
/
Cash in Bank
Capital

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

"Received" is a keyword for all Accounts Receivable transactions.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

"Paid" is a keyword for all Accounts Payable transactions.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All business transactions will affect ONE asset and ONE equity account.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Checks are treated just like cash.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

"Withdrew" is a keyword for all Withdrawal transactions.

True

False

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