Recap accounting elements and financial statements

Recap accounting elements and financial statements

9th - 10th Grade

15 Qs

quiz-placeholder

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Recap accounting elements and financial statements

Recap accounting elements and financial statements

Assessment

Quiz

Business

9th - 10th Grade

Hard

Created by

Lee Zhi Li

Used 13+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

10 sec • 1 pt

Select assets only.

Trade receivables

Trade payables

Cash at bank

Inventory

2.

MULTIPLE SELECT QUESTION

10 sec • 1 pt

Select liabilities only.

Office equipment

Trade payables

Bank loan

Bank overdraft

3.

MULTIPLE SELECT QUESTION

10 sec • 1 pt

Select income only

Sales returns

Sales revenue

Discount received

Discount allowed

4.

MULTIPLE SELECT QUESTION

10 sec • 1 pt

Select expense only.

Discount received

Discount allowed

Utilities

Cost of sales

5.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

What makes up equity?

Capital + Profit - Drawings

Capital - Loss - Drawings

Capital + Income - Expense - Drawings

Capital - Drawings

6.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Which of the following pairs consist of assets only?

Trade receivables, trade payables

Cash at bank, bank overdraft

Inventory, premises

Cash in hand, capital

7.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Which of the following pair consists of liabilities only?

Office equipment, drawings

Bank loan, bank overdraft

Fixtures and fittings, mortgage loan

Motor vehicles, profit for the year

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