WorksheetsClassification of Accounts
Total questions: 10
Worksheet time: 3mins
What are the examples of an asset?
A. Internet Bill, Water Bill, Salary
B. Mortgage, Promissory Notes, Payables
C. Trucks, Building, Cash
D. XZY, Capital, Star, Capital, Bloom, Capital
The portion of the total assets that the owners or stockholders of the company fully own; have paid for outright
A. Assets
B. Expenses
C. Income
D. Liabilities
It refers to unwithdrawn deposits in banks.
A. Cash in Bank
B. Cash on Hand
C. Inventory
D. Supplies
The money the company spends to produce the goods or services that it sells
A. Assets
B. Capital
C. Expenses
D. Income
Tangible and intangible items that the company owns that have value
A. Assets
B. Capital
C. Expenses
D. Income
Money that the company owes to others
A. Capital
B Expenses
C. Income
D. Liabilities
These are assets that are convertible to cash within a short period of time.
A. Capital
B. Current Assets
C. Income
D. Expenses
These are assets that are permanent in nature. They are acquired for long term use and for physical use in the business.
A. Capital
B. Expenses
C. Fixed Assets
D. Liability
These are an example of an expenses.
A. Internet Bill, Water Bill, Salary
B. Mortgage, Promissory Notes, Payables
C. Trucks, Building, Cash
D. XZY, Capital, Star, Capital, Bloom, Capital
The money the company earns from its sales of products or services, and interest and dividends earned from marketable securities
A. Assets
B. capital
C. Expenses
D. Income
