Accounting Review

Question 1 of 5

Medal-premium 1

A computer used by a business would be an asset.

Select one of the following:

  • True
  • False

Question 2 of 5

Medal-premium 1

An account used to summarize the owner's equity is the T account.

Select one of the following:

  • True
  • False

Question 3 of 5

Medal-premium 1

A decrease in the owner's equity is a resume of the owner withdrawing money from the business or an expense.

Select one of the following:

  • True
  • False

Question 4 of 5

Medal-premium 1

Money paid for advertising is an asset account because it will increase sales.

Select one of the following:

  • True
  • False

Question 5 of 5

Medal-premium 1

Sale of goods is a source of revenue for a business.

Select one of the following:

  • True
  • False
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Accounting Review

Shannon Anderson-Rush
Quiz by , created over 2 years ago

Quiz on Accounting Review, created by Shannon Anderson-Rush on 27/05/2014.

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Shannon Anderson-Rush
Created by Shannon Anderson-Rush over 2 years ago
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