Intro to Accounting
2 months ago
brizendine44
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15 QuestionsShow answers
  • Question 1
    30 seconds
    Q. Assets taken out of a business for the owner's personal use
    answer choices
    capital
    withdrawals
    equities
    revenue
  • Question 2
    30 seconds
    Q. Planning, recording, analyzing, and interpreting financial information
    answer choices
    accounting
    ethics
    transaction
    revenue
  • Question 3
    30 seconds
    Q. A decrease in owner's equity resulting from the operation of a business
    answer choices
    account
    capital
    asset
    expense
  • Question 4
    30 seconds
    Q. Amount owed by a business
    answer choices
    liability
    asset
    capital
    account
  • Question 5
    30 seconds
    Q. A business activity that changes assets, liabilities, or owner's equity
    answer choices
    transaction
    expense
    revenue
    sale on account
  • Question 6
    30 seconds
    Q. Anything of value that is owned
    answer choices
    account
    asset
    withdrawal
    expense
  • Question 7
    30 seconds
    Q. A business owned by one person
    answer choices
    service business
    revenue
    expense
    proprietorship
  • Question 8
    30 seconds
    Q. The amount in an account
    answer choices
    account title
    revenue
    account balance
    accounting records
  • Question 9
    30 seconds
    Q. Financial reports that summarize the financial condition and operations of a business
    answer choices
    financial statements
    ethics
    withdrawals
    equities
  • Question 10
    30 seconds
    Q. An increase in owner's equity resulting from the operation of a business
    answer choices
    asset
    expense
    withdrawl
    revenue
  • Question 11
    30 seconds
    Q. Revenues minus expenses equals _____________________.
    (Revenues-Expenses = _______________)
    answer choices
    Profit
    Overhead
    Income
    None of the above
  • Question 12
    30 seconds
    Q. Accounting entries involve a minimum of how many accounts?
    answer choices
    0
    1
    2
    3
  • Question 13
    30 seconds
    Q.

    ________ are debts of the business?

    answer choices

    assets

    liabilities

    owners equity

    vehicles

  • Question 14
    30 seconds
    Q.

    Equipment are an example of an/a ______?

    answer choices

    loan

    asset

    liability

    owners equity

  • Question 15
    45 seconds
    Q.

    water and electricity is an/a __________?

    answer choices

    credit

    asset

    expense

    income

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