Consolidation Quiz
Authored by M Pearce
Business
9th - 12th Grade
Used 2+ times
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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which financial statement shows the profit made at the end of a specified period?
Statement of Financial Position
Statement of Profit or Loss
Cash Flow Statement
Statement of Changes in Equity
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which financial statement reflects the financial position of a business at a specific point in time?
Statement of Changes in Equity
Statement of Profit or Loss
Statement of Financial Position
Cash Flow Statement
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an asset in accounting?
A resource that provides future economic benefits
Ownership interest of shareholders
Revenue earned by a business
An obligation or debt
4.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Which accounts are listed on the Statement of Financial Position?
Expenses
Liabilities
Revenue
Assets
Owners Equity
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of account is Accounts Payable?
Asset
Liability
Revenue
Expense
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of account is Mortgage?
Asset
Liability
Revenue
Expense
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of account is Commission?
Asset
Liability
Revenue
Expense
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