quiz - 3 accounting
Authored by Carlo Santuico
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
received initial investment from the owner
increase in asset = increase in capital
increase in asset = increase in liabilities
decrease in asset =increase in asset
decrease in asset = decrease in liabilities
decrease in asset = decrease in capital
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
purchased supplies on credit
increase in asset = increase in capital
increase in asset = increase in liabilities
decrease in asset =increase in asset
decrease in asset = decrease in liabilities
decrease in asset = decrease in capital
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
received cash from the bank as loan for 2 yrs
increase in asset = increase in capital
increase in asset = increase in liabilities
decrease in asset =increase in asset
decrease in asset = decrease in liabilities
decrease in asset = decrease in capital
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
deposited money to the bank
increase in asset = increase in capital
increase in asset = increase in liabilities
decrease in asset =increase in asset
decrease in asset = decrease in liabilities
decrease in asset = decrease in capital
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
give cash to the owner as drawing
increase in asset = increase in capital
increase in asset = increase in liabilities
decrease in asset =increase in asset
decrease in asset = decrease in liabilities
decrease in asset = decrease in capital
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
sold merchandise for cash
increase in asset = increase in capital
increase in asset = increase in liabilities
decrease in asset =increase in asset
decrease in asset = decrease in liabilities
decrease in asset = decrease in capital
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
sold merchandise on credit
increase in asset = increase in capital
increase in asset = increase in liabilities
decrease in asset =increase in asset
decrease in asset = decrease in liabilities
decrease in asset = decrease in capital
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