WorksheetsSFP Elements
Total questions: 10
Worksheet time: 2mins
Element that is also known as the Capital
Asset
Liability
Equity
Income
Properties owned or controlled by the company
Equity
Asset
Liability
Income
Debts or obligations of the company
Liability
Equity
Asset
Expense
Account name used to record sales on account
Cash
Accounts payable
Accounts receivable
"Accumulated depreciation" is a/an ______________ account.
Expense
Asset
Contra-asset
Liability
Prepaid rent is an example of a/an ________ account.
Expense
Liability
Asset
Equity
Which does NOT belong to the SET of Financial Statements required?
SCI
SFP
SEC
Notes to FS
Which account names does NOT belong to the group?
Building
Allowance for bad debts
Cash
Unearned income
Statement of Financial Position is commonly known as the __________________.
Income Statement
Balance Sheet
Owner's Statement
Equity Sheet
Middle initial of your Accounting teacher :D
G
H
I
J
