Pre-Activity "Know your Accounts" 25-26

Pre-Activity "Know your Accounts" 25-26

10th Grade

10 Qs

quiz-placeholder

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Pre-Activity "Know your Accounts" 25-26

Pre-Activity "Know your Accounts" 25-26

Assessment

Quiz

Business

10th Grade

Hard

Created by

Michelle Sitias

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Which of the following is an example of an asset?

Accounts Payable

Cash

Rent Expense

Owner’s Capital

2.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Which item is most likely a liability?

Service Revenue

Equipment

Accounts Payable

Utilities Expense

3.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

What account title represents business income?

Drawings

Supplies

Service Income

Salaries Expense

4.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Which account reduces owner’s equity?

Capital

Drawings

Service Income

Cash

5.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

What type of account is "Building"?

Asset

Expense

Liability

Revenue

6.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Salaries Expense belongs to what type of account?

Asset

Revenue

Expense

Liability

7.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Prepaid Rent is considered a/an:

Asset

Expense

 Revenue

 Liability

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