Explore the fundamentals of accounting with The Accounting Equation Quiz. This quiz assesses understanding of the basic accounting principle, its application in double entry bookkeeping, and identification of assets. It's essential for learners aiming to grasp core financial concepts.
The financial condition
That the business made a profit
The names of all the customers
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Balance Sheet
Profit and Loss Statement
Loan Statement
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True
False
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Single entry bookkeeping
Cash books
Double entry bookkeeping
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Bank Loans
A building
Borrowed funds
Income
Acounts payable
Sales
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Variable
Permanent
Temporary
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Variable
Permanent
Temporary
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Cash
Office Equipment
Loans
Subscriptions
Machinery
Vehicles
Overheads
Accounts Receivable
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