Classification Of Accounts Quiz: Exam!

20 Questions | Total Attempts: 77

SettingsSettingsSettings
Please wait...
Classification Of Accounts Quiz: Exam!

Do you know how to classify accounts? Accounts classified as asset accounts, liability accounts, capital, or owner’s equity accounts, withdraw accounts, revenue or income accounts and express accounts. The five major accounts correlate to each other. If one changes, the other will change too. The way these accounts are classified is somewhat new. This quiz will tell you about the classification of accounts. Don’t forget to take your certificate upon conclusion of the quiz.


Questions and Answers
  • 1. 
    Jones Payable
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 2. 
    Accounts Receivable
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 3. 
    Calculator Equipment
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 4. 
    Prepaid Rent
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 5. 
    Business Analyst  Payable
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 6. 
    Prepaid Insurance
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 7. 
    Calculator Supplies
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 8. 
    Notes Payable
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 9. 
    Office Supplies
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 10. 
    Computer
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 11. 
    Cash
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

    • D. 

      Answer option 4

  • 12. 
    David Hughes, Capital
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 13. 
    Office Furniture
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 14. 
    Texas Payable
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 15. 
    Truck
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 16. 
    Buildings
    • A. 

      Liability

    • B. 

      Asset

    • C. 

      Owner's Equity

  • 17. 
    Accounts Payable
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 18. 
    Land
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 19. 
    Mortgage Payable
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 20. 
    Display Equipment
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

Back to Top Back to top