Pre-Test (Accounting for Non-Accountants)
Authored by Mark Paul Ramos
Business
Professional Development
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Accounting Principle is general law or rule followed in the preparation of financial statements.
TRUE
FALSE
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Cash basis considers the revenue as realized when the goods are produced.
TRUE
FALSE
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The ledger is the book of original entry.
TRUE
FALSE
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The income statement shows either net profit or net loss for a particular period.
TRUE
FALSE
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the main sections on a balance sheet?
Assets, liabilities, income
Assets, liabilities, equity
Assets, liabilities, expenses
Assets, gains, revenue
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which side of the ledger account are debits recorded on?
Left
Right
Depends on the debit
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which side of the ledger account are credits recorded on?
Left
Right
Depends on the debit
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