Chapter 3 Section 1 Vocabulary
Quiz
•
Business
•
9th - 12th Grade
•
Medium
Randall Spaur
Used 10+ times
FREE Resource
9 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Anything of value that a person or business owns and therefore controls.
credit
property
financial claim
assets
2.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
A legal right to an item.
credit
property
financial claim
equities
3.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
When you buy something and agree to pay for it later.
credit
creditor
financial claim
equities
4.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
The business or person selling you the item on credit.
credit
creditor
assets
equities
5.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Property and items and value owned by a business.
accounting equation
liabilities
equities
assets
6.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
The accounting term for the financial claims to assets.
accounting equation
liabilities
equities
assets
7.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
The accounting term for the financial claims to assets.
accounting equation
liabilities
equities
owner's equity
8.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
The creditor's claims to the assets of the business.
accounting equation
liabilities
equities
owner's equity
9.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
The relationship between assets and the two types of equities (liabilities and owner's equity).
accounting equation
liabilities
equities
owner's equity
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