Free Printable FABM1 Midterm Quiz

Free Printable Worksheets

Worksheets

FABM1 Midterm Quiz

Total questions: 30

Worksheet time: 15mins

Name

Class

Date

1.

Notes payable

a)

Asset

b)

Liability

c)

Equity

d)

Withdrawal

2.

Notes receivable

a)

Asset

b)

Liability

c)

Equity

d)

Withdrawal

3.

Office equipment

a)

Asset

b)

Liability

c)

Equity

d)

Withdrawal

4.

Office rent

a)

Asset

b)

Liability

c)

Equity

d)

Revenue

e)

Expense

5.

Office supplies

a)

Asset

b)

Liability

c)

Equity

d)

Revenue

e)

Expense

6.

Office supplies expense

a)

Asset

b)

Liability

c)

Equity

d)

Revenue

e)

Expense

7.

Owner's additional investment

a)

Asset

b)

Liability

c)

Equity

d)

Withdrawal

8.

Owner's capital

a)

Asset

b)

Liability

c)

Equity

d)

Withdrawal

9.

Paid accounts payable

a)

Asset

b)

Liability

c)

Equity

d)

Withdrawal

10.

Paid taxes and licenses

a)

Asset

b)

Liability

c)

Equity

d)

Revenue

e)

Expense

11.

Paid to creditors

a)

Asset

b)

Liability

c)

Equity

d)

Withdrawal

12.

Painting new apartment

a)

Asset

b)

Liability

c)

Equity

d)

Revenue

e)

Expense

13.

Painting fees earned

a)

Asset

b)

Liability

c)

Equity

d)

Revenue

e)

Expense

14.

Payment for repairs of office equipment

a)

Asset

b)

Liability

c)

Equity

d)

Revenue

e)

Expense

15.

Payment received for the repair of equipment

a)

Asset

b)

Liability

c)

Equity

d)

Revenue

e)

Expense

16.

Payment of assistance

a)

Asset

b)

Liability

c)

Equity

d)

Revenue

e)

Expense

17.

Payment of electric bill

a)

Asset

b)

Liability

c)

Equity

d)

Revenue

e)

Expense

18.

Payment of salaries

a)

Asset

b)

Liability

c)

Equity

d)

Revenue

e)

Expense

19.

Payment of SSS contribution on cash

a)

Asset

b)

Liability

c)

Equity

d)

Revenue

e)

Expense

20.

Payment of utility

a)

Asset

b)

Liability

c)

Equity

d)

Revenue

e)

Expense

21.

Payment of wages on cash

a)

Asset

b)

Liability

c)

Equity

d)

Revenue

e)

Expense

22.

Photography equipment

a)

Asset

b)

Liability

c)

Equity

d)

Withdrawal

23.

Portrait revenue

a)

Asset

b)

Liability

c)

Equity

d)

Revenue

e)

Expense

24.

Prepaid insurance

a)

Asset

b)

Liability

c)

Equity

d)

Revenue

e)

Expense

25.

Prepaid rent

a)

Asset

b)

Liability

c)

Equity

d)

Revenue

e)

Expense

26.

Professional fees

a)

Asset

b)

Liability

c)

Equity

d)

Revenue

e)

Expense

27.

Promissory note for service rendered

a)

Asset

b)

Liability

c)

Equity

d)

Revenue

e)

Expense

28.

Promissory note from customer

a)

Asset

b)

Liability

c)

Equity

d)

Revenue

e)

Expense

29.

Purchase supplies on account

a)

Asset

b)

Liability

c)

Equity

d)

Revenue

e)

Expense

30.

Purchase supplies on cash

a)

Asset

b)

Liability

c)

Equity

d)

Revenue

e)

Expense

100 %

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