1. Which of the following equations correctly represents a basic accounting equation?

ACCOUNTING EQUATION AND CLASSIFICATIONS

Quiz
•
Business
•
8th Grade
•
Medium
Lisbeth Muhammad
Used 8+ times
FREE Resource
15 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Assets = Owner's equity
Assets = Liabilities
Assets = Cash
Assets – Liabilities = Owner’s equity
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Assets – Capital – Liabilities + Expenses is equal to
Expenses
Assets
Revenues
Liabilities
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following items CANNOT be considered as a revenue?
Commission income
Accounts receivable
Rent received
Interest revenue
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The debts to be paid within a short period (a year or less) are known as
Non-Current liabilities
Non-current assets
Current liabilities
Current assets
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of tangible non-current asset?
Furniture
Cash
Patents
Accounts payable
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following is an example of a liability?
Loan from Bank Kaya Bhd
Loan to Ramlee
Office equipment
Fixed deposit
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The economic resources in the company that are expected to provide benefits in the future are referred to as:
Liabilities
Revenues
Assets
Owner’s equity
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