Amounts that are owed to a business are known as:

Review-Quiz2-Dual Credit Accounting

Quiz
•
Life Skills
•
9th - 12th Grade
•
Hard
Caroline Bachour
FREE Resource
12 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
accounts receivable.
accounts payable.
capital.
expenses
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a single line within an amount column of a financial statement indicate?
That the underlined figure is the final amount in a column.
That the underlined figure is a key item within the financial statement.
That the amounts above it are being added or subtracted.
That the amounts below it are being added or subtracted.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When the owner invests cash in a business,
assets and revenue increase.
assets increase and owner's equity decreases.
liabilities decrease and owner's equity increases.
assets and owner's equity increase.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When equipment is purchased for cash,
assets and liabilities increase.
assets increase and liabilities decrease.
assets, liabilities, and owner’s equity are all unchanged
assets and expenses increase.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a business purchases supplies on credit:
assets decrease and owner's equity increase.
assets increase and revenues increase.
assets and liabilities increase.
liabilities increase and owner's equity decreases.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a business collects an account receivable:
total assets do not change.
assets increase and revenues increase.
assets and liabilities increase.
assets increase and owner's equity increases.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When the firm pays its utility bill upon receipt of that bill:
assets and owner's equity increase.
assets decrease and expenses increase.
assets and liabilities decrease.
expenses increase and owner's equity increases.
Create a free account and access millions of resources
Similar Resources on Wayground
15 questions
Finance Vocab

Quiz
•
6th Grade - University
7 questions
Personal Finance - Chapter 1 Test

Quiz
•
9th - 12th Grade
10 questions
Ch 3 Glencoe Accounting Vocab Quiz-Acct Equation/Transactions

Quiz
•
9th - 12th Grade
15 questions
Creating a Personal Budget

Quiz
•
9th - 12th Grade
15 questions
Bankruptcy Quiz

Quiz
•
10th - 12th Grade
15 questions
Advanced Accounting Chapter 13 Review

Quiz
•
10th Grade
16 questions
LPHS - XI

Quiz
•
11th Grade
Popular Resources on Wayground
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade
Discover more resources for Life Skills
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade