Accounting Review
Computers
8th Grade
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11 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Accounting?
Keeping financial records for a business
Proving that correct procedures are followed
Evaluating employees on performance
Following business laws in the workplace
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which one of these is the correct Accounting Equation?
Liabilities = Assets + Capital
Capital = Assets + Liabilities
Assets = Liabilities - Capital
Assets = Liabilities + Capital
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the word to describe anything that has value in a business?
Capital
Liability
Asset
Revenue
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What word describes people/businesses that you owe money to?
Asset
Liability
Capital
Revenue
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The owner's share of the business is referred to as:
Asset
Liability
Capital
Revenue
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which classification would this account have: EQUIPMENT
Revenue
Liability
Asset
Capital
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Classify this account: VERIZON WIRELESS PHONE COMPANY
Asset
Liability
Capital
Revenue
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