Unlock and Upgrade

Remove all limits from your Quizzes

You've reached the limit of our free version but can immediately unlock and go pro.

Continue No thanks

Make your own Quiz

Make your own Quiz Copy & Edit

Make your own quiz Manage my Quizzes Plans / Features Guides and Help Contact Privacy & Security

SAPTC - QUIZ - Knowledge Test

Which financial statement reports the revenues and expenses for a period of time such as a year or a month?

Cash Flow Statement

Balancesheet

Income Statement

Which financial statement reports the assets, liabilities, and stockholders' (owner's) equity at a specific date?

Cash Flow Statement

Balance Sheet

Income Statement

Assets are usually reported on the balance sheet at which amount?

Current Market Value

Cost

Expected Selling Vaue

Sales Revenues minus Cost of Goods sold equals

Gross Profit/Loss

Net Profit/Loss

Profit Before Tax

Accounting entries involve a minimum of how many accounts?

One

Two

Three

Which term is associated with "left" or "left side"?

Debit

Credit

When a company pays a bill, the account Cash will be ?

Debited

Credited

What will usually cause an asset account to increase?

Debit

Credit

What will usually cause the liability account Accounts Payable to increase?

Debit

Credit

Entries to expenses such as Rent Expense are usually

Debits

Credits

{"name":"SAPTC - QUIZ - Knowledge Test", "url":"https://www.quiz-maker.com/QPREVIEW","txt":"Which financial statement reports the revenues and expenses for a period of time such as a year or a month?, Which financial statement reports the assets, liabilities, and stockholders' (owner's) equity at a specific date?, Assets are usually reported on the balance sheet at which amount?","img":"https://www.quiz-maker.com/3012/images/ogquiz.png"}