Which one is right?

Balance Sheet

Quiz
•
Business
•
4th Grade
•
Medium
Sashel Bailey
Used 12+ times
FREE Resource
13 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Asset = Owner's equity + Liability
Asset = Owner's equity - Liability
Asset + Owner's equity = Liability
Asset + Owner's equity = expense
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is balance sheet?
A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure.
A Balance sheet is one of a company's core financial sheet that shows their profit and lossProfit and Loss
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which one does not belongs to liability?
Mobile Phone Bill
Bank Loan
Cash at Bank
Owed To Friends
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which one is not belongs to liability?
Mobile Phone Bill
Bank Loan
Bank Balance
Owed To Friends
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Mr.W has current assets of $500 and total assets of $1500. ABC has current liabilities of $300 and total liabilities of $800. What is the amount of ABC's owner's equity
200
700
900
800
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following would normally be a current liability?
Note Payable Due In Two Years
Unearned Revenue
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do we calculate Total Assets?
Fixed Assets - Current Liabilities
Current Assets / Current Liabilities
Fixed Assets + Current Assets
Fixed Assets - Current Assets
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