BUSINESS TRANSACTIONS EFFECT
11th Grade
•5 Qs
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BUSINESS TRANSACTIONS EFFECT
Quiz
•
Specialty
•
11th Grade
•
Hard
Roxanne Rada
Used 4+ times
FREE Resource
5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
1. Purchased supplies for cash. What accounting element being affected?
Increased in Asset Decreased in Asset
Increased in Liabilities
Decreased in Liabilities
Increased in OE and Decreased in OE
Increased in Asset Deceased in Asset
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
2. Paid salary of employees.
Decreased in Owner's Equity
Increase in Assets
Decreased in Assets
Decreased in Owner's Equity
Increased in Liabilities Decreased in Assets
Increased in Owner's Equity Increased in Assets
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
3. Bought computer set on account.
Increased in Assets
Increased in Liabilities
Increased in Assets
Decreased in Assets
Increased in Liabilities
Decreased in Liabilities
Increased in Assets
Increased in OE
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
4. Rendered service to customer on account.
Increased in Assets
Increased in OE
Increased in Assets
Decreased in OE
Increased in OE
Decreased in Assets
Increased in Liabilities
Decreased in Assets
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
5.Received cash as payment for the service rendered.
Increased in OE
Decreased in Assets
Increased in Assets
Increased in OE
Increased in Liabilities
Decreased in Liabilities
Increased in OE
Decreased in OE
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