Pretest Accounting-AFHS

Pretest Accounting-AFHS

9th - 12th Grade

40 Qs

quiz-placeholder

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Pretest Accounting-AFHS

Pretest Accounting-AFHS

Assessment

Quiz

Business

9th - 12th Grade

Hard

Created by

Dexter Jennings

Used 1+ times

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40 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Accounting is a service activity. Its function is to provide

quantitative information

qualitative information

quantitative and qualitative information

none of the choices

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The basic purpose of accounting is

to provide the information that the managers of an economic entity need to control its operations

to provide information that the creditors of an economic entity can use in deciding whether to make loans

to measure the periodic income of the economic entity

to provide quantitative financial information about a business enterprise that is useful in making rational decision

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The resources owned by a business are called:

assets

liabilities

accounting equation

owner’s equity

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The debts of the business are called:

assets

liabilities

accounting equation

owner’s equity

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The rights of the owners are called

assets

liabilities

accounting equation

owner’s equity

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The components of a balance sheet equation are

assets, income and owner’s equity

assets, liabilities, and owner’s equity

income, expenses and profit

investments, withdrawals, and profit

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The following can be found in an income statement except

income

assets

expenses

profit or loss

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