Accounting Basics Quiz

Froggy Jumps

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Test your accounting basics.

Creada por

Valerie Bentley

Estados Unidos

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Froggy Jumps Accounting Basics QuizVersión en línea Test your accounting basics. por Valerie Bentley 1 What expresses the relationship between what is owned and what is owed by an entity? a Accounting equation b Assets c Balance sheet 2 What are resources that are owned by a business and have economic value? a Assets b Liabilities c Gains 3 What financial statement provides a snapshot of a company's financial performance at a specific point in time, based on the accounting equation, Assets = Liabilities + Owner’s Equity? a Cash flow statement b Income statement c Balance sheet 4 What financial statement provides a summary of the movement of cash in and out of a company? a Income statement b Balance sheet c Cash flow statement 5 What accounting system that requires two entries, one debit and one credit? a Merchandise accounting b Single-entry accounting c Double-entry accounting 6 What is the portion of assets remaining after deducting liabilities? a Retained earnings b Assets c Owner’s equity 7 What is the amount of a company’s income left after paying all its costs? a Gains b Revenue c Retained earnings 8 What are debts or obligations owed by a business to an external party? a Assets b Liabilities c Equity capital

Froggy Jumps

Accounting Basics QuizVersión en línea

Test your accounting basics.

por Valerie Bentley

What expresses the relationship between what is owned and what is owed by an entity?

Accounting equation

Assets

Balance sheet

What are resources that are owned by a business and have economic value?

Assets

Liabilities

Gains

What financial statement provides a snapshot of a company's financial performance at a specific point in time, based on the accounting equation, Assets = Liabilities + Owner’s Equity?

Cash flow statement

Income statement

Balance sheet

What financial statement provides a summary of the movement of cash in and out of a company?

Income statement

Balance sheet

Cash flow statement

What accounting system that requires two entries, one debit and one credit?

Merchandise accounting

Single-entry accounting

Double-entry accounting

What is the portion of assets remaining after deducting liabilities?

Retained earnings

Assets

Owner’s equity

What is the amount of a company’s income left after paying all its costs?

Gains

Revenue

Retained earnings

What are debts or obligations owed by a business to an external party?

Assets

Liabilities

Equity capital

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Accounting Basics Quiz

Froggy Jumps

Sobre esta actividad

Creada por

Descarga la versión para jugar en papel

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Froggy Jumps

Accounting Basics QuizVersión en línea

por Valerie Bentley

What expresses the relationship between what is owned and what is owed by an entity?

What are resources that are owned by a business and have economic value?

What financial statement provides a snapshot of a company's financial performance at a specific point in time, based on the accounting equation, Assets = Liabilities + Owner’s Equity?

What financial statement provides a summary of the movement of cash in and out of a company?

What accounting system that requires two entries, one debit and one credit?

What is the portion of assets remaining after deducting liabilities?

What is the amount of a company’s income left after paying all its costs?

What are debts or obligations owed by a business to an external party?

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