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Finance for Non-Finance (Activity 3)

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

"Depreciation" can be categorized under which element of accounting?

a)

Asset

b)

Liability

c)

Equity

d)

Income

e)

Expense

2.

"Inventory" can be categorized under which element of accounting?

a)

Asset

b)

Liability

c)

Equity

d)

Income

e)

Expense

3.

"Share capital" can be categorized under which element of accounting?

a)

Asset

b)

Liability

c)

Equity

d)

Income

e)

Expense

4.

"Manufacturing plant" can be categorized under which element of accounting?

a)

Asset

b)

Liability

c)

Equity

d)

Income

e)

Expense

5.

"Trademark" can be categorized under which element of accounting?

a)

Asset

b)

Liability

c)

Equity

d)

Income

e)

Expense

6.

"Fixed deposit" can be categorized under which element of accounting?

a)

Asset

b)

Liability

c)

Equity

d)

Income

e)

Expense

7.

"Income tax" can be categorized under which element of accounting?

a)

Asset

b)

Liability

c)

Equity

d)

Income

e)

Expense

8.

"Dividend received" can be categorized under which element of accounting?

a)

Asset

b)

Liability

c)

Equity

d)

Income

e)

Expense

9.

"Investment in shares available in stock exchange" can be categorized under which element of accounting?

a)

Asset

b)

Liability

c)

Equity

d)

Income

e)

Expense

10.

"Advance received from customers" can be categorized under which element of accounting?

a)

Asset

b)

Liability

c)

Equity

d)

Income

e)

Expense