Business

8th

grade

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Principles of Accounts

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14 questions

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  • 1. Multiple Choice
    30 seconds
    1 pt

    What is a balance sheet?

    A final account

    A snapshot of the business' financial position of at a particular point in time.

    It shows the business' assets, liabilities and capital

  • 2. Multiple Choice
    30 seconds
    1 pt

    Identify the categories of accounts found on the balance sheet.

    Assets, liabilities, capital

    Expenses, liabilities, income

    Financed by, expenses, revenue

  • 3. Multiple Choice
    30 seconds
    1 pt

    All are examples of current assets except

    bank

    debtors

    loans

    inventory

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