Accounting Quiz- 6

Revenue and expense accounts are referred as______________?
The Basic accounting equation is___________?
Net income equal to Revenues minus____________?
Cash received for services rendered will______________?
Which of the following accounts are closed at the end of an accounting period?
If the business’s owner withdraws cash for his/her personal use what will be the effect on capital?
Which of the following is the practical implementation of the accounting equation?
___________ helps business to classify transactions according to their nature?
Which of the following is the normal balance of a rent expense account?
Capital of a business decreases if there is an increase in___________?
Calculate the amount of cash if: Total assets=$10,000 Total liabilities=$10,000 Total Capital=$5000
Building account is classified as _________ account?
Which of the following is a real account?
The real accounts are accounts of Assets, liabilities and ___________?
Office equipments account is classified as _________ account?
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Accounting Quiz- 6
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