Practice One Question Preview (ID: 20351)
Definitions.
TEACHERS: click here for quick copy question ID numbers.
any amount that is owed is called
a) revenue
b) liability
c) capital
d) drawing
anything of value that is owned
a) accountant
b) business entity
c) bookkeeper
d) asset
the owner of a business
a) proprietor
b) revenue
c) sole proprietorship
d) accountant
the increase in owner's dquity caused by income from the sale of goods and services
a) liability
b) equities
c) revenue
d) fiscal period
the period of time that the books are open to record transactions and summarize accounting information
a) partnership
b) fiscal period
c) equities
d) revenue
an association of individuals united for a common purpose to use a common name
a) corporation
b) capital
c) asset
d) bookkeeper
business activity that causes changes in the value of assets, liabilities and capital
a) bookkeeper
b) liability
c) partnership
d) business transaction
a person responsible for recording business transactions
a) accountant
b) bookkeeper
c) proprietor
d) drawing
the existence of a business as an artificial individual
a) asset
b) equities
c) revenue
d) business entity
an owner's withdrawal of cash from his business for personal use
a) drawing
b) capital
c) corporation
d) equities
Play Games with the Questions above at ReviewGameZone.com
To play games using the questions from above, visit ReviewGameZone.com and enter game ID number: 20351 in the upper right hand corner or click here.
To play games using the questions from above, visit ReviewGameZone.com and enter game ID number: 20351 in the upper right hand corner or click here.
TEACHERS / EDUCATORS
Log In | Sign Up / Register
Log In | Sign Up / Register