ACCT. 1-QUIZ-CHAPTER 3
Quiz by Teresa
Feel free to use or edit a copy
includes Teacher and Student dashboards
Measure skillsfrom any curriculum
Measure skills
from any curriculum
Tag the questions with any skills you have. Your dashboard will track each student's mastery of each skill.
With a free account, teachers can
- 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
23 questions
Show answers
- Q1Anything of value that is owned or controlled by an individual or business.Property30s
- Q2When you own an item or property, you have a legal right or financial claim to that item.Financial Claim30s
- Q3When you buy property and agree to pay for it later.Credit30s
- Q4The business or person selling you the property on credit.Creditor30s
- Q5Property or items of value owned by a business. Example: Office, Furniture, cash in bank, equipment.Assets30s
- Q6The accounting term for the financial claim to these assets.Equity30s
- Q7The owner's claims to the asset of the business.Owners Equity30s
- Q8True.T or F- The word equities refers to claims against the assets of business by both creditors and owners.30s
- Q9the debts of a business. Examples: Accounts payable.Liabilities30s
- Q10True.T or F- A creditor has a financial claim to the assets of a business30s
- Q11ASSETS=LIABILITIES+OWNERS EQUITY OR ASSETS-LIABILITIES=OWNERS EQUITY.Accounting Equation30s
- Q12An economic event that causes a change in assets, liabilities, or owner's equity.Business Transaction30s
- Q13Shows the balance for a specific item.Account30s
- Q14The total amount of money ti be received in the future for goods or services sold on creditAccounts receivable30s
- Q15assetAccounts receivable is an30s