Accounting Worksheets

Accounting Worksheets

10th - 12th Grade

36 Qs

quiz-placeholder

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Accounting Worksheets

Accounting Worksheets

Assessment

Quiz

Business

10th - 12th Grade

Medium

CCSS
6.NS.C.7C, 2.NBT.B.7, 6.NS.B.3

Standards-aligned

Created by

Candee Parkhurst

Used 15+ times

FREE Resource

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36 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An element of the income statement that informs the business of just how much money it is making

Net income

Creditors

Revenue

Income Statement

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If Owner's Equity is $300 and Assets are $1500, the Liabilities are:

$1800

$1200

$300

$1500

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

From which accounting document is the trial balance prepared?

Journals

Ledgers

Source documents

Vouchers

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This is the process of transferring amounts from journals to ledgers.

Classifying

Posting

Summarizing

Recording

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This refers to the process of entering information in the journals which occurs immediately after the analysis phase of the accounting cycle.

Adjusting

Closing

Journalizing

Classifying

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Adjusting entries are necessary because accounts are allowed to become inaccurate between financial statement dates.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Net income on a work sheet is calculated by subtracting the Income Statement Debit column total from the Income Statement Credit column total.
True
False

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