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ACCOUNTING TLE 10

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Business

10th Grade

Used 2+ times

ACCOUNTING TLE 10
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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Debit side is on ____, while Credit side is on ____

Top & Down

Left & Right

Right & Left

Down & Top

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

It is residual interest in the assets of the enterprise after deducting all its liabilities.

Liabilities

Income

Assets

Equity

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

It is a resource controlled by the enterprise as a result of past events and from which future economic benefits are expected to flow to the enterprise.

Asset

Equity

Liabilities

Revenue

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

This are obligations of the entity outside parties who have furnished resources.

Equity

Asset

Withdraw

Liabilities

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

It represents other items that meet the definition of income and may or may not arise in the course of the ordinary activities of an enterprise

Gains

Loses

Income

Expenses

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

It arises in the course of ordinary activities of an enterprise and is referred to by a variety of different names including sales, fees, interest, dividends, royalties and rent.

Expenses

Revenue

Loses

Gains

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

This are decreases in economic benefits during the accounting period in the form of outflows or depletions of assets or incurrences of liabilities that result in decreases in equity.

Loses

Gains

Income

Expenses

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