Classification Of Accounts Quiz: Exam!

20 Questions | Total Attempts: 426

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Classification Of Accounts Quiz: Exam! - Quiz

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. 
    Cash
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

    • D. 

      Answer option 4

  • 2. 
    Jones Payable
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 3. 
    Business Analyst  Payable
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 4. 
    Prepaid Rent
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 5. 
    Calculator Equipment
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 6. 
    Accounts Receivable
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 7. 
    Computer
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 8. 
    Office Supplies
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 9. 
    Notes Payable
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 10. 
    Calculator Supplies
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 11. 
    Prepaid Insurance
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 12. 
    Texas Payable
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 13. 
    Office Furniture
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 14. 
    David Hughes, Capital
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 15. 
    Buildings
    • A. 

      Liability

    • B. 

      Asset

    • C. 

      Owner's Equity

  • 16. 
    Truck
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 17. 
    Land
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 18. 
    Accounts Payable
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 19. 
    Display Equipment
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

  • 20. 
    Mortgage Payable
    • A. 

      Asset

    • B. 

      Liability

    • C. 

      Owner's Equity

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