Free Printable Account classification

Free Printable Worksheets

Worksheets

Account classification

Total questions: 45

Worksheet time: 4mins

Name

Class

Date

1.

Sales

a)

Revenue

b)

Expense

c)

Asset

d)

Liability

2.

Sales returns

a)

Revenue

b)

Contra revenue ("negative" revenue)

c)

Owner's equity

d)

Asset

3.

Cost of goods sold

a)

Revenue

b)

Expense

c)

Asset

d)

Liability

4.

Inventory adjustment

a)

Revenue

b)

Expense

c)

Asset

d)

Liability

5.

Depreciation

a)

Revenue

b)

Expense

c)

Asset

d)

Liability

6.

Advertising

a)

Revenue

b)

Expense

c)

Asset

d)

Liability

7.

Freight outwards

a)

Revenue

b)

Expense

c)

Asset

d)

Liability

8.

Wages

a)

Revenue

b)

Expense

c)

Asset

d)

Liability

9.

Insurance

a)

Revenue

b)

Expense

c)

Asset

d)

Liability

10.

Stationery

a)

Revenue

b)

Expense

c)

Asset

d)

Liability

11.

Bad and doubtful debts

a)

Revenue

b)

Expense

c)

Asset

d)

Liability

12.

Bank (DR balance)

a)

Asset

b)

Liability

c)

Owner's equity

d)

Revenue

13.

Bank (CR balance)

a)

Asset

b)

Liability

c)

Owner's equity

d)

Expense

14.

Accounts receivable

a)

Asset

b)

Liability

c)

Owner's equity

d)

Revenue

15.

Provision for doubtful debts

a)

Contra asset ("negative" asset)

b)

Asset

c)

Liability

d)

Expense

16.

Inventories

a)

Asset

b)

Liability

c)

Expense

d)

Revenue

17.

Accrued revenue

a)

Asset

b)

Liability

c)

Revenue

d)

Expense

18.

Prepaid expense

a)

Asset

b)

Expense

c)

Liability

d)

Revenue

19.

Government bonds

a)

Asset

b)

Liability

c)

Revenue

d)

Owner's equity

20.

Furniture

a)

Asset

b)

Liability

c)

Expense

d)

Owner's equity

21.

Accumulated depreciation

a)

Asset

b)

Contra asset ("negative asset")

c)

Liability

d)

Expense

22.

Delivery truck

a)

Asset

b)

Liability

c)

Owner's equity

d)

Expense

23.

Buildings

a)

Asset

b)

Liability

c)

Expense

d)

Owner's equity

24.

Patents

a)

Asset

b)

Liability

c)

Owner's equity

d)

Revenue

25.

Goodwill

a)

Asset

b)

Liability

c)

Expense

d)

Owner's equity

26.

Bank overdraft

a)

Asset

b)

Liability

c)

Expense

d)

Owner's equity

27.

Accounts payable

a)

Asset

b)

Liability

c)

Owner's equity

d)

Expense

28.

GST clearing (CR balance)

a)

Asset

b)

Liability

c)

Expense

d)

Revenue

29.

GST clearing (DR balance)

a)

Asset

b)

Liability

c)

Revenue

d)

Expense

30.

Accrued expenses

a)

Asset

b)

Liability

c)

Expense

d)

Revenue

31.

Unearned revenue

a)

Asset

b)

Liability

c)

Revenue

d)

Expense

32.

Mortgage on land

a)

Asset

b)

Liability

c)

Revenue

d)

Expense

33.

Capital

a)

Asset

b)

Liability

c)

Owner's equity

d)

Revenue

34.

Drawings

a)

Asset

b)

Liability

c)

Owner's equity

d)

Contra ("negative") owner's equity

35.

Shares in Woolworths Limited

a)

Asset

b)

Liability

c)

Owner's equity

d)

Expense

36.

Dividends received

a)

Revenue

b)

Expense

c)

Asset

d)

Liability

37.

Interest paid by the business

a)

Revenue

b)

Expense

c)

Asset

d)

Liabiolity

38.

Interest received by the business

a)

Revenue

b)

Expense

c)

Asset

d)

Liability

39.

Rent paid by the business

a)

Revenue

b)

Expense

c)

Asset

d)

Liability

40.

Rent received by the business

a)

Revenue

b)

Expense

c)

Asset

d)

Liability

41.

Commission paid by the business

a)

Revenue

b)

Expense

c)

Asset

d)

Liability

42.

Commission received by the business

a)

Revenue

b)

Expense

c)

Asset

d)

Liability

43.

Service fees received

a)

Asset

b)

Revenue

c)

Expense

d)

Liability

44.

Fuel for motor vehicle

a)

Liaiblity

b)

Asset

c)

Expense

d)

Owner's Equity

45.

Debtors

a)

Liability

b)

Expense

c)

Owner's Equity

d)

Asset

Reset

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