What is the definition of net worth?
Financial and Accounting Basics Quiz

Quiz
•
Business
•
9th Grade
•
Hard
Zachary French
FREE Resource
9 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The difference between assets and liabilities
The total value of a company's assets
The amount of money owed to creditors
The total amount of money a business earns
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a type of equity capital?
Government agencies
Venture capitalist
Accounts payable
Commercial Banks
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a balance sheet list?
The forecast of future business performance
The business's revenues and expenses over time
The way cash flows into and out of a business
What a business owns, owes, and its worth at a point in time
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is collateral?
An accounting report of cash flow
Property forfeited if a loan is defaulted
A type of unsecured loan
A business's net worth
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of an income statement?
To show revenues, expenses, and profit or loss over time
To list assets, liabilities, and owner's equity
To record transactions in journals
To forecast cash receipts and disbursements
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a secured loan?
A loan backed by collateral
A loan not guaranteed with collateral
A loan from friends and family
A loan from venture capitalists
7.
OPEN ENDED QUESTION
3 mins • 1 pt
How can you apply this basic understanding of accounting to your personal life?
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8.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
If a company has more revenue than expenses for the period, it has a ____.
Net Income
Net Loss
9.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
“NET INCOME also known as NET PROFIT” is:
Profit before you pay taxes and interest
Profit before you deduct operating expenses
The money used to pay taxes and health benefits
Profit left over after all the expenses have been deducted from your total revenue
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