CHANGES IN EACH OF MAJOR ACCOUNTS (MINTZBERG)
Understanding Changes in Major Accounts
This quiz is designed to test your understanding of accounting principles related to changes in major accounts as per Mintzberg's framework. Whether you're a student, teacher, or professional in the field, this quiz will help reinforce your knowledge.
- 7 engaging questions
- Multiple choice format
- Focus on key accounting concepts
Are you from block 25 Mintzberg?
Yes
No
If total liabilities increased by P90,000 and owner’s equity increased by P60,000 during a period of time, then total assets must change by what amount and direction during that same period?
150,000 increase
150,000 decrease
30,000 increase
30,000 decrease
If total liabilities decreased by P90,000 and owner’s equity decreased by P10,000 during a period of time, then total assets must change by what amount and direction during that same period?
100,000 increase
100,000 decrease
80,000 increase
80,000 decrease
If total assets decreased by P100,000 and liabilities increased by P89,000 during a period of time, then total owner’s equity must change by what amount and direction during that same period?
189,000 increase
189,000 decrease
11,000 increase
11,000 decrease
If total assets increased by P18,000 and liabilities increased by P15,000 during a period of time, then total liabilities must change by what amount and direction during that same period?
33,000 increase
33,000 decrease
3,000 increase
3,000 decrease
If total assets decreased by P1,000 and owner’s equity decreased by P5,600 during a period of time, then total liabilities must change by what amount and direction during that same period?
6,600 increase
6,600 decrease
4,600 increase
4,600 decrease
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