Simple Ledger - Unit 4 REVIEW (Gedana & Madison)
Quiz by GEDANA MATHIRAJAN
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
- view complete results in the Gradebook and Mastery Dashboards
- automatically assign follow-up activities based on students’ scores
- assign as homework
- share a link with colleagues
- print as a bubble sheet
Our brand new solo games combine with your quiz, on the same screen
Correct quiz answers unlock more play!
27 questions
Show answers
- Q1What is a Ledger?A group or file of accounts. A ledger can be in many forms such as cards, paper in binders, electronic files, etc.A report that show us the financial position of a company.30s
- Q2Which side does the beginning balance of the ASSETS go on the T-Accounts?LEFTLEFT AND RIGHTRIGHTNONE30s
- Q3Which side does the beginning balance of the LIABILITIES and OWNER'S EQUITY go on the T-Accounts?RIGHTBOTH SIDESLEFTLiabilities goes on LEFT and OE goes on RIGHT30s
- Q4Assets...Increase on the LEFT and Decrease on the RIGHTIncrease on the RIGHT and Decrease on the LEFT60s
- Q5Liabilities...Decrease on the LEFT side and increase on the RIGHT sideIncrease on the LEFT side and decrease on the RIGHT60s
- Q6What order does Ms. Simone want you to place the ASSETS, LIABILITIES and OWNER'S EQUITY on a T-Account?Place it however you'd likeTop to BottomRight to LeftLeft to Right30s
- Q7What pieces of information does an account contain?Assets and LiabilitiesOnly the Net Worth of the companyAccount name, Beginning Balance, Balance IndicatorValues of every asset30s
- Q8When a Liability decreases, which side of the T-account does it go on?CreditDebit30s
- Q9Under which side does the TOTAL of a T-account go?The side with the larger balanceWhich ever side had the beginning balanceAll go under the debit side for Assets, Liabilities and Owner's EquitySmallest Balance30s
- Q10When capital increases, which side of the T-account does it go under?CreditDependsDebit30s
- Q11A business purchases $300 worth of supplies for cash, which accounts will this affect?Supplies: CR and Cash: DRCash: CR and Supplies: DRCash: CR and Capital: DR60s
- Q12Is this an Exceptional Account?No!Yes!60s
- Q13All are Exceptional Balances except...An A/P overpays youYou return goods for creditAn A/R overpays youA customer returns for credit45s
- Q14Calculate the Capital of this business...$2,067$1,067$50060s
- Q15"on-credit" and "on-account" are terms that can be used interchangeably.Yes, they mean the same thingNo, they mean two different things60s
