SJI10- TLE 2ND QUARTER TERMS

SJI10- TLE 2ND QUARTER TERMS

10th Grade

35 Qs

quiz-placeholder

Similar activities

Intro to business -Chp 12 Financial Management

Intro to business -Chp 12 Financial Management

9th - 12th Grade

30 Qs

Accounting 1: Chapter 4 Review

Accounting 1: Chapter 4 Review

9th - 12th Grade

39 Qs

Accounting Cycle 2

Accounting Cycle 2

KG - University

32 Qs

Transaction Review

Transaction Review

9th - 12th Grade

40 Qs

REVIEW questions

REVIEW questions

9th - 12th Grade

40 Qs

Financial Analysis for Entrepreneurs

Financial Analysis for Entrepreneurs

10th - 12th Grade

30 Qs

S1 Bookkeeping - Quiz (Ch1-7, 30 Qs)

S1 Bookkeeping - Quiz (Ch1-7, 30 Qs)

10th Grade

30 Qs

Acctg Ch 7 Financial Statements

Acctg Ch 7 Financial Statements

9th - 12th Grade

30 Qs

SJI10- TLE 2ND QUARTER TERMS

SJI10- TLE 2ND QUARTER TERMS

Assessment

Quiz

Other

10th Grade

Hard

Created by

TEACHER ROSE

FREE Resource

35 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the accounting equation represent?

Assets = Liabilities + Owner’s Equity

Assets = Liabilities + Owner’s Equity + Revenues - Expenses

Assets + Liabilities = Owner’s Equity

Revenues - Expenses = Owner’s Equity

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What effect do investments by the owner have on owner’s equity?

Decrease owner’s equity

Increase owner’s equity

Have no effect on owner’s equity

Increase liabilities

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are drawings in accounting terms?

Increases in owner’s equity

Withdrawals of cash or other assets by the owners

Revenues earned by the business

Expenses incurred by the business

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is defined as gross increases in owner’s equity from business activities?

Expenses

Drawings

Revenues

Assets

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following represents decreases in owner’s equity?

Revenues

Drawings

Investments

Assets

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best describes revenues?

Decreases in owner’s equity

Increases in owner’s equity from activities aimed at generating income

Increases in liabilities

Expenses incurred by the business

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens to owner’s equity when a business incurs expenses?

It increases

It decreases

It has no effect

It remains constant

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?