Search Header Logo

Accounting Concepts Worksheet

Authored by D. Franz

Other

9th Grade

Accounting Concepts Worksheet
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

64 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A formal report that shows what an individual owns, what an individual owes, and the difference between the two

Owner's equity

Net Worth Statement

Personal Net Worth

Equity Statement

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An equation showing the relationship among assets, liabilities, and owner's equity

Accounting Equation

Net Worth Statement

Owner's Equity

Accounting Principles

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A business activity that changes assets, liabilities, or owner's equity.

Accounting

Accounting Equation

Transaction

Service Business

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The standards and rules that accountants follow while recording and reporting financial activities.

Accounting Equation

Business Ethics

Personal Net Worth

GAAP

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A sale for which cash will be received at a later date.

Sale on account

Owner's Equity

Revenue

Expense

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Assets taken out of a business for the owner's personal use.

Withdrawals

Expenses

Revenue

Owner's Equity

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A record summarizing all the information pertaining to a single item in the accounting equation.

Transaction

Accounting

Account

Title

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?