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CLASSIFICATION OF ACCOUNTS #3

Total questions: 16

Worksheet time: 8mins

Name
Class
Date
1.

Mortgage on land is

a)

equity

b)

liabilities

c)

assets

d)

revenue

e)

equity

2.

Insurance received is

a)

equity

b)

revenue

c)

assets

d)

expenses

e)

liabilities

3.

Commission paid is

a)

revenue

b)

assets

c)

liabilities

d)

expenses

e)

equity

4.

Premises

a)

liabilities

b)

assets

c)

equity

d)

revenue

e)

expenses

5.

Bank charges

a)

revenue

b)

equity

c)

liabilities

d)

expenses

e)

assets

6.

2-year fixed deposit

a)

equity

b)

liabilities

c)

expenses

d)

revenue

e)

assets

7.

Wages

a)

revenue

b)

assets

c)

expenses

d)

equity

e)

liabilities

8.

5-year bank loan

a)

equity

b)

liabilities

c)

assets

d)

revenue

e)

expenses

9.

Patents

a)

liabilities

b)

expenses

c)

equity

d)

revenue

e)

assets

10.

Interest on loan

a)

revenue

b)

expenses

c)

assets

d)

liabilities

e)

equity

11.

Investments

a)

assets

b)

revenue

c)

liabilities

d)

expenses

e)

equity

12.

Postage and internet bills

a)

revenue

b)

liabilities

c)

expenses

d)

equity

e)

assets

13.

Audit fee

a)

revenue

b)

equity

c)

liabilities

d)

assets

e)

expenses

14.

Rent received

a)

expenses

b)

assets

c)

revenue

d)

equity

e)

liabilities

15.

Salesmen commission

a)

assets

b)

expenses

c)

equity

d)

revenue

e)

liabilities

16.

Printing and stationery

a)

equity

b)

liabilities

c)

revenue

d)

expenses

e)

assets

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