BY: admin | October 17, 2017
Take the Marco Basic Accounting Quiz!
Put your accounting knowledge to the test and see if you could still “ace” that college midterm!
Results
Congratulations! You did great!
See what you missed below!
#1 True or False: Revenue – Expenses = Net Income
#2 True or False: Debits are commonly associated with the term “left-side”
#3 In a proper journal entry, ________ are always indented
#4 Which of the following statements reports revenues and expenses for a period of time?
#5 Assets are reported on the balance sheet at which amount?
#6 What is the minimum number or accounts required for an accounting entry?
#7 Liabilities are recorded on the ________
#8 True or False: Liabilities – Assets = Equity
#9 GAAP is an acronym for _________
#10 True or False: Financial statements report the fair market value of a company
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