
24-25 Accounting 1 Unit 3 Test 1
Quiz
•
Specialty
•
9th Grade
•
Medium
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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