Accounting Practice Questions

Quiz
•
Business
•
9th - 12th Grade
•
Hard
Kristen Reaves
Used 1+ times
FREE Resource
45 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Amounts still owed on our building's mortgage.
Asset
Revenue
Liability
Cost of Merchandise (COM)
Owner's Equity
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
A delivery truck used in the operation of the business.
Asset
Revenue
Liability
Cost of Merchandise (COM)
Owner's Equity
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Freight charges on merchandise we have shipped in to our business.
Asset
Revenue
Liability
Cost of Merchandise (COM)
Owner's Equity
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Owner withdrawal of an asset.
Asset
Revenue
Liability
Cost of Merchandise (COM)
Owner's Equity
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The difference between the assets and liabilities of a business.
Asset
Revenue
Liability
Cost of Merchandise (COM)
Owner's Equity
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The amount earned from selling merchandise after markup.
Asset
Revenue
Liability
Cost of Merchandise (COM)
Owner's Equity
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
All items represented by the left side of the the accounting equation.
Asset
Revenue
Liability
Cost of Merchandise (COM)
Owner's Equity
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