1. Which of the following is an example of an Asset? a) Cash b) Owner's equity c) Sales

Understanding Accounting Terms

Quiz
•
Business
•
9th Grade
•
Easy
Deon Strydom
Used 1+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a) Cash
Revenue
Inventory
Accounts payable
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
2. What does CRJ stand for? a) Cash Receipts Journal b) Capital Record Journal c) Credit Return Journal
Credit Receipt Journal
a) Cash Receipts Journal
Cash Record Journal
Capital Returns Journal
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
3. What does CPJ stand for? a) Cash Payments Journal b) Capital Purchase Journal c) Credit Purchase Journal
Cash Purchase Journal
a) Cash Payments Journal
Credit Payments Journal
Capital Payments Journal
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
4. What is recorded in the CRJ? a) All payments made by the business b) All cash received by the business c) All expenses incurred by the business
d) All assets owned by the business
a) All payments made by the business
c) All expenses incurred by the business
b) All cash received by the business
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
5. What is recorded in the CPJ? a) All payments made by the business b) All cash received by the business c) All revenues generated by the business
All expenses incurred by the business
All loans taken by the business
All assets purchased by the business
a) All payments made by the business
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
6. What type of account is Capital? a) Asset b) Liability c) Owner's Equity
d) Revenue
e) Expense
f) Investment
c) Owner's Equity
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
7. Complete the equation: O = A - ? a) L b) C c) E
T
E
M
R
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