
Accounting
Authored by shiela lanado
Business
University
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10 questions
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1.
FILL IN THE BLANKS QUESTION
30 sec • 1 pt
He is an italian mathematician who is known as the " Father of Accounting"
(a)
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Merchandise Inventory is a/an
Liability
Asset
Expense
Income
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Forms of Business organization owned by more than one individual and is created by operation of law.
Partnership
Sole Proprietorship
Corporation
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An item that a company or person owns that has monetary value. These come in the form of tangible assets (typically physical assets owned by the company, such as property, equipment and land) and intangible assets (assets not physical in nature, such as patents, copyright, goodwill and trademarks).
Assets
Liabilities
Revenues
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount that is earned by a business in profits, after all costs are deducted. It is calculated by taking revenue and subtracting all of the expenses within a period of time, including overheads, depreciation, and taxes.
net income
revenue
assets
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Accrued Expenses is a/an
Liability
Expenses
Asset
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Normal balance of Prepaid Expense
Debit
Credit
Expense
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