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Accounting

Quiz by Emily Lamar

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10 questions
Show answers
  • Q1
    The average salary for an accountant is approximately $68,000.
    False
    True
    20s
  • Q2
    The projected growth for accountants is slow.
    False
    True
    10s
  • Q3
    In accounting, debit means
    on the right
    add
    subtract
    on the left
    30s
  • Q4
    In accounting, credit means
    add
    subtract
    on the right
    on the left
    30s
  • Q5
    The basic accounting equation is
    assets = liabilities - owner's equity
    assets + liabilities = owner's equity
    assets = liabilities + owner's equity
    30s
  • Q6
    An obligation to pay money is
    an asset
    a liability
    owner's equity
    30s
  • Q7
    Something that you own that has a value is
    owner's equity
    an asset
    a liability
    30s
  • Q8
    Is an employee paycheck an example of a liability?
    Yes
    No
    30s
  • Q9
    What financial statement shows a snapshot of a company's financial health at a specific point in time.
    Income Statement
    Balance Sheet
    20s
  • Q10
    What financial statement shows the profitability of a company over a period of time?
    Income Statement
    Balance Sheet
    20s

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