Shannon Anderson-Rush
Quiz by , created about 4 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 about 4 years ago
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  • 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