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Classification of Accounts 2.0

Total questions: 25

Worksheet time: 4mins

Name
Class
Date
1.

Office Equipment

a)

asset

b)

liabilities

c)

income

d)

expenses

2.

cash on hand

a)

asset

b)

liabilities

c)

income

d)

expenses

3.

Cash on bank

a)

asset

b)

liabilities

c)

equity

d)

income

4.

Account receivable

a)

asset

b)

liabilities

c)

expense

d)

Equity

5.

Land

a)

asset

b)

liabilities

c)

equity

d)

expense

6.

accounts payable

a)

liabilities

b)

asset

c)

income

d)

expense

7.

credit card

a)

assest

b)

liabilities

c)

expense

d)

equity

8.

bank loan

a)

asset

b)

liabilities

c)

expense

d)

income

9.

vendor payment

a)

asset

b)

liabilities

c)

equity

d)

income

10.

notes payable

a)

asset

b)

liabilities

c)

equity

d)

income

11.

capital

a)

asset

b)

liabilities

c)

income

d)

equity

12.

drawings

a)

asset

b)

liabilities

c)

equity

d)

expense

13.

retained earnings

a)

asset

b)

liabilities

c)

equity

d)

expense

14.

owner's equity

a)

asset

b)

liabilities

c)

equity

d)

expense

15.

dividends

a)

assets

b)

liabilities

c)

equity

d)

expense

16.

bakery sales

a)

asset

b)

liabilities

c)

expense

d)

income/revenue

17.

stocks sales

a)

asset

b)

liabilities

c)

expense

d)

income/revenue

18.

Honoraria/honorarium

a)

asset

b)

liabilities

c)

expense

d)

income/revenue

19.

consultancy

a)

asset

b)

liabilities

c)

equity

d)

income/revenue

20.

shipping

a)

asset

b)

liabilities

c)

equity

d)

income/revenue

21.

advertising

a)

asset

b)

liabilities

c)

income

d)

expense

22.

consultancy fee

a)

asset

b)

equity

c)

income

d)

expenses

23.

insurance

a)

asset

b)

equity

c)

income

d)

expenses

24.

rent

a)

asset

b)

equity

c)

income

d)

expenses

25.

utilities

a)

asset

b)

equity

c)

income

d)

expenses