Accounting Fundamentals Test #1

Accounting Fundamentals Test #1

12th Grade

24 Qs

quiz-placeholder

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Accounting Fundamentals Test #1

Accounting Fundamentals Test #1

Assessment

Quiz

Business

12th Grade

Medium

Created by

Thomas Niksich

Used 7+ times

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24 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What does GAAP stand for

Good Apples Are Perfect

Grandmas Are Always Punctual

General Accepted Accounting Principals

General Art Are Pleasant

2.

DROPDOWN QUESTION

1 min • 1 pt

A ​ (a)   handles a broad range of responsibilities, makes business decisions, and prepares and

interprets financial reports.

Accountant
Manager
Principal
Logistics Engineer

3.

DROPDOWN QUESTION

1 min • 1 pt

A ​ (a)   ​ business operates to

earn money for their owners.

For-Profit
Non-Profit
Charity
Football Team

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

CPA stands for

Certified Personal Accountant

Certified People Audit

Care Professional Animal

Careful Personal Accountant

5.

DRAG AND DROP QUESTION

1 min • 3 pts

The Accounting Equation

​ (a)   = ​ (b)   + ​ (c)  

Assets
Liabilities
Equity
Money

6.

DRAG AND DROP QUESTION

1 min • 2 pts

The stuff the business ​ (a)   is equal to the stuff the business ​ (b)  

Owns
Owes
Buys
Sells

7.

DROPDOWN QUESTION

1 min • 1 pt

Loans, Taxes, Wages owed, etc are a ​ (a)  

Liability
Asset
Equity

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