Week 2
Authored by Nicole Chuchmach
Financial Education
Professional Development
Used 3+ times
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9 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Assets are what a company owns
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Liabilities are what the business owes
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An income statement shows the financial health of a business at a point in time
True
False
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The Accounting Equation
Assets + Liabilities = Owner's Equity
Assets + Revenue = Owner's Equity
Assets - Liabilities = Owner's Equity
Assets - Expenses = Owner's Equity
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Expenses are costs incurred when using or consuming a good or a service
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Unearned revenue is money received from a customer, however, the goods or services have not yet been delivered
True
False
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Rent is an asset
True
False
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