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- 1. Multiple ChoiceAssets taken out of a business for the owner's personal usecapitalwithdrawalsequitiesrevenue
- 2. Multiple ChoicePlanning, recording, analyzing, and interpreting financial informationaccountingethicstransactionrevenue
- 3. Multiple ChoiceA decrease in owner's equity resulting from the operation of a businessaccountcapitalassetexpense
- 4. Multiple ChoiceAmount owed by a businessliabilityassetcapitalaccount
- 5. Multiple ChoiceA business activity that changes assets, liabilities, or owner's equitytransactionexpenserevenuesale on account
- 6. Multiple ChoiceAnything of value that is ownedaccountassetwithdrawalexpense
- 7. Multiple ChoiceA business owned by one personservice businessrevenueexpenseproprietorship
- 8. Multiple ChoiceThe amount in an accountaccount titlerevenueaccount balanceaccounting records
- 9. Multiple ChoiceFinancial reports that summarize the financial condition and operations of a businessfinancial statementsethicswithdrawalsequities
- 10. Multiple ChoiceAn increase in owner's equity resulting from the operation of a businessassetexpensewithdrawlrevenue
- 11. Multiple ChoiceRevenues minus expenses equals _____________________.
(Revenues-Expenses = _______________)ProfitOverheadIncomeNone of the above - 12. Multiple ChoiceAccounting entries involve a minimum of how many accounts?0123
- 13. Multiple Choice
________ are debts of the business?
assets
liabilities
owners equity
vehicles
- 14. Multiple Choice
Equipment are an example of an/a ______?
loan
asset
liability
owners equity
- 15. Multiple Choice
water and electricity is an/a __________?
credit
asset
expense
income
- Answer choicesTagsAnswer choicesTags