14194254
Description
Quiz by Chloe Costello, updated more than 1 year ago
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Created by Chloe Costello
over 6 years ago
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Question 1
Question
An item of value owned by a business which lasts for years.
Answer
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Liability
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Expense
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Asset
Question 2
Question
An amount owed to another firm/business.
Answer
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Asset
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Sale
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Liability
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Expense
Question 3
Question
The value of the business to the owner.
Answer
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Owner's Equity
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Capital
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Income
Question 4
Question
Costs from a business which must be bought over and over.
Answer
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Capital
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Bank Overdraft
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Expenses
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Mortage
Question 5
Question
Income received by a business.
Answer
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Revenue
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Sales
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Stock
Question 6
Question
The amount the owner has invested in the business.
Answer
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Owner's Equity
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Expense
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Drawings
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Capital
Question 7
Question
A firm/individual who owes the business money.
Answer
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Accounts Recievable
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Accounts Payable
Question 8
Question
A firm/individual to whom owes the business money.
Answer
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Accounts Receivable
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Accounts Payable
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