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Classification of Accounts

Quiz by Mary Jane C. Jimenez

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5 questions
Show answers
  • Q1
    The following are examples of current assets except
    Prepaid Insurance
    Cash
    Account Receivable
    Land
    20s
  • Q2
    Increase in asset is
    Credit
    Debit
    20s
  • Q3
    Decrease in Liability is
    Debit
    Credit
    20s
  • Q4
    Which of the following is NOT an example of external users of accounting information?
    Suppliers
    Customer
    Employee
    Government
    20s
  • Q5
    Business transactions are recorded
    In chronological order
    Alphabetically
    At the end of the month
    Weekly
    20s

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