24-25 Accounting 1 Unit 3 Test 1

24-25 Accounting 1 Unit 3 Test 1

9th Grade

21 Qs

quiz-placeholder

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24-25 Accounting 1 Unit 3 Test 1

24-25 Accounting 1 Unit 3 Test 1

Assessment

Quiz

Specialty

9th Grade

Medium

Created by

Bobbie Jones

Used 1+ times

FREE Resource

21 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an example of an account that has a normal credit balance?

Cash

Accounts Payable/Jones Supply

Prepaid Insurance

Supplies

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Accounts Payable/Dale's Office Supplies, Accounts Payable/McCormick Equipment Company, and Accounts Payable/John's Office Repair Service are all classified as:

assets.

liabilities.

revenue.

expenses.

3.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

In the transaction RECEIVED CASH FROM SALES, the source document is a/an: (choose 2)

bank statement or calculator tape.

check stub or memorandum.

invoice.

receipt.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a part of the accounting equation? A. assets. B. liabilities. C. owner's equity. D. revenue.

assets

liabilities

owner's equity

revenue

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an example of an account that has a normal debit balance?

Accounts Receivable/Oakdale School

Accounts Payable/Jones Supply

Mary Johnson, Capital

Sales

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an example of an account that has a normal credit balance?

Cash

Office Equipment

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The transaction RECEIVED CHECK FROM PARKER, INC., IN PAYMENT ON ITS ACCOUNT would result in the journal entry:

debit Accounts Receivable/ Parker, Inc.; credit Cash.

debit Cash; credit Accounts Receivable/ Parker, Inc.

debit Cash; credit Supplies.

debit Supplies; credit

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