What does the accounting equation represent?

SJI10- TLE 2ND QUARTER TERMS

Quiz
•
Other
•
10th Grade
•
Hard
TEACHER ROSE
FREE Resource
35 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
Similar Resources on Quizizz
30 questions
Financial Analysis for Entrepreneurs

Quiz
•
10th - 12th Grade
40 questions
The Money Olympics

Quiz
•
9th - 12th Grade
30 questions
2017 2

Quiz
•
9th - 11th Grade
34 questions
Marketing Applications unit 2

Quiz
•
9th - 12th Grade
30 questions
Kuis Akuntansi Dasar (Pengelompokan Akun)

Quiz
•
9th - 12th Grade
30 questions
Financial Literacy Review

Quiz
•
9th - 12th Grade
36 questions
ENTRE: Quarter 3 Test

Quiz
•
10th Grade
30 questions
Understanding Balance Sheets

Quiz
•
10th Grade
Popular Resources on Quizizz
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade