Accounting Knowledge Quiz

Question 1: What is the basic accounting equation?[答案：A][分数：10][全部] A. Assets = Liabilities + Owner's Equity B. Assets = Liabilities - Owner's Equity C. Liabilities = Assets + Owner's Equity D. Owner's Equity = Assets + Liabilities

Question 2: Which of the following is an example of an asset?[答案：C][分数：10][全部] A. Accounts payable B. Notes payable C. Cash D. Unearned revenue

Question 3: What is the normal balance of an asset account?[答案：A][分数：10][全部] A. Debit B. Credit C. Either debit or credit, depending on the transaction D. Zero

Question 4: Which of the following is a liability account?[答案：C][分数：10][全部] A. Accounts receivable B. Inventory C. Salaries payable D. Equipment

Question 5: What is the purpose of recording depreciation?[答案：B][分数：10][全部] A. To increase the value of an asset over time B. To allocate the cost of an asset over its useful life C. To record the sale of an asset D. To reduce the liability associated with an asset

Question 6: Which financial statement shows a company's revenues, expenses, and net income or loss?[答案：B][分数：10][全部] A. Balance sheet B. Income statement C. Cash flow statement D. Statement of owner's equity

Question 7: What is a contra-asset account?[答案：A][分数：10][全部] A. An account that increases an asset B. An account that decreases an asset C. An account that has no relationship with assets D. An account that is always a liability

Question 8: If a company has 50,000inassetsand30,000 in liabilities, what is the owner's equity?[答案：A][分数：10][全部] A. 20,000B.30,000 C. 50,000D.80,000

Question 9: Which of the following is a cash equivalent?[答案：A][分数：10][全部] A. A 3-month Treasury bill B. A 5-year corporate bond C. Inventory D. Accounts receivable

Question 10: What is the matching principle in accounting?[答案：B][分数：10][全部] A. Revenues and expenses should be recognized in the same period in which cash is received or paid. B. Expenses should be recognized in the same period as the revenues they help to generate. C. Assets and liabilities should be matched in value. D. Owner's equity should be matched with revenues.