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Accounting Principles Quiz

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Questions and Answers

Which of the following is not a type of financial statement?

Balance sheet

Trial balance (correct)

Cash flow statement

Income statement

What does the term 'credit' represent in accounting?

Decrease in liabilities or equity

Decrease in assets

Increase in liabilities or equity (correct)

Increase in assets

Which of the following is an example of a current liability?

Building and equipment

Accrued expenses (correct)

Accounts receivable

Long-term loan

Accounting Principles Quiz

Choose a study mode

Podcast

Questions and Answers

Which of the following is not a type of financial statement?

What does the term 'credit' represent in accounting?

Which of the following is an example of a current liability?

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