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EMS Grade 8
Test Description: EMS
Instructions: Answer all questions to get your test result.
1) State whether Debit or Credit - Assets
A
-
B
-
C
Debit
D
Credit
2) State whether Debit or Credit - Liabilities
A
-
B
-
C
Debit
D
Credit
3) State whether Debit or Credit - Operating Revenue
A
-
B
Credit
C
Debit
D
-
4) State whether Debit or Credit -Operating expense
A
-
B
-
C
Debit
D
Credit
5) State whether Debit or Credit - Property and equipment
A
-
B
Debit
C
Credit
D
-
6) State whether Debit or Credit - Accrued salaries
A
-
B
Debit
C
Credit
D
-
7) State whether Debit or Credit -Sales
A
-
B
-
C
Credit
D
Debit
8) State whether Debit or Credit - Investments
A
-
B
Debit
C
-
D
Credit
9) What are factors of production
A
-
B
Production of goods
C
Exports used for production
D
Inputs used in the production of goods or services in order to make an economic profit
10) Write the accounting equation to calculate an owner's assets
A
(A=OE+L)
B
None
C
(A-OE-L)
D
A-OE+l
*select an answer for all questions
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