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Accounting

Authored by John Gallo

Mathematics

11th Grade

Used 7+ times

Accounting
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40 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not an asset?

Cash at the bank

Premises

Stock

Creditors

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which of the following are incorrect?

(ii) & (iv) only

(i) , (ii) & (iii) only

(iii) & (ii) only

(iii) & (iv) only

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is incorrect?

Assets -18,270 Liabilities - 5,290 Capital - 12,980

Assets -9,340 Liabilities - 3,120 Capital - 6,220

Assets -15,160 Liabilities - 6,380 Capital - 7,780

Assets -12,230 Liabilities - 1,390 Capital - 10,840

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the formula to workout cost price (CP)?

SP + 1/100

SP X 1/100+ MU

SP + 1/100+ MU

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Gross profit is calculated in the:

(A) profit and loss account

(B) balance sheet

(C) trading account

(D) trial balance

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is the accounting equation?

Assets + Liabilities = Owner's Equity

Assets = Liabilities + Owner's Equity

Assets = Liabilities - Owner's Equity

Owner's Equity = Assets + Liabilities

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Market

Service

Merchandising

Manufacturing

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