Balance Sheet

Balance Sheet

4th Grade

13 Qs

quiz-placeholder

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Balance Sheet

Balance Sheet

Assessment

Quiz

Business

4th Grade

Medium

Created by

Sashel Bailey

Used 12+ times

FREE Resource

13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

Which one is right?

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

Media Image

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

Media Image

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

Media Image

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

Media Image

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

Media Image

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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