Enterprise Quiz For *exam*

6 Questions | Total Attempts: 36

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Enterprise Quiz For *exam*

This quiz should hep tp prepare for the exam on FridayGood Luck!


Questions and Answers
  • 1. 
    Assets are:
    • A. 

      Items of ownership that are benefical to the business

    • B. 

      Moneys owed; debts or pecuniary obligations

    • C. 

      Hair dryers, tools, paint, etc.

    • D. 

      Green with spikes

  • 2. 
    The accounting equation can be written as:
  • 3. 
    Liabilities are:
    • A. 

      The very first, large, heading for a transaction table

    • B. 

      Always a good thing

    • C. 

      The same as an asset

    • D. 

      Anything that is a hindrance or puts a business at disadvantage

  • 4. 
    Owners equity is:
    • A. 

      The opposite of liability and can be expressed as capital

    • B. 

      When the owners sneaks into the business' cash register and steals all the money and can be expressed as R.E.A.L.

    • C. 

      Ownership interest in a corporation in the form of common stock or preferred stock capital

    • D. 

      The amount of money in wages and can be expressed as capital

  • 5. 
    Explain the importance of a Journal and Ledger book.
  • 6. 
    What is debit and credit?
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