ABM Week5
Quiz by Michelle
Feel free to use or edit a copy
includes Teacher and Student dashboards
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Tag the questions with any skills you have. Your dashboard will track each student's mastery of each skill.
- edit the questions
- save a copy for later
- start a class game
- automatically assign follow-up activities based on students’ scores
- assign as homework
- share a link with colleagues
- print as a bubble sheet
- Q1
The basic accounting equation is Assets+Liabilities=Capital
falsetrueTrue or False15s - Q2
The owner invests personal cash in the business. This will decrease capital
falsetrueTrue or False15s - Q3
The company receives cash from a bank loan. This will credit liability
truefalseTrue or False15s - Q4
The company repays the bank that hade lent money to the company. This will debit assets.
falsetrueTrue or False15s - Q5
The company purchases equipment with its cash. This will debit liability.
falsetrueTrue or False30s - Q6
The company purchase significant amount of supplies on credit. This will debit assets.
truefalseTrue or False30s - Q7
The company purchases Machinery in cash. This will have no effect in Total Assets.
truefalseTrue or False15s - Q8
The company paid salaries in cash. This will decrease liability.
falsetrueTrue or False15s - Q9
Which of the following will cause owner's equity to increase?
owner's withdrawal
expenses
income
15s - Q10
If the company debits the asset, the asset will
decrease
increase
15s