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Accounting

Quiz by Eman

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Q 1/7
Score 0
Accounting Equation is
29
O.E= Assets - Liabilities
O.E= Assets + Liabilities
Liabilities= Assets + O.E

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7 questions

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Q1
Accounting Equation is
O.E= Assets - Liabilities
O.E= Assets + Liabilities
Liabilities= Assets + O.E
30s
Q2
Temporary Accounts are
Revenues, Expenses, Drawings
Assets, Liabilities, capital
Expenses, Capital. Liabilities
Revenues, capital, drawings
30s
Q3
Equipment, prepaid rent, Land are examples of
Revenues
Assets
Liabilities
O.E
30s
Q4
Unearned revenue classified as
Revenue
Liabilities
Assets
Expense
30s
Q5
calculation Depreciation expense in straight line method
dep exp= Acquistion cost/ Dep rate
Dep exp= Acquistion cost - salvage value / useful life
dep exp= Acquistion cost/ useful life
dep exp= Acquistion cost * Dep rate
30s
Q6
purchase equipment cash BD1500 will effect
equipment and furniture
equipment and account payable
equipment and cash account
equipment and account receivable
30s
Q7
The normal balance of Assets
double entry
Debit
no entry
credit
30s

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