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Accounting Basics: 8th Grade Flashcards | StudBud
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Accounting Basics: 8th Grade
Accounting Basics: 8th Grade
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StudBud Administration
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Accounting Basics Review
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
Which topic have we covered in Financial Literacy so far?
Management
HTML
Marketing
Accounting
2
A business that performs an activity for a fee is called a
Business Center
Volunteer Club
Service Business
Lions Club
3
What's remaining after subtracting Liabilities from Assets
Accounting
Owner's Equity
Assets
Liabilities
4
Things that are owed
Owner's Equity
Liabilities
Accounting
Assets
5
A business owned by one owner
Corporation
Company
Partnership
Proprietorship
6
What is the Accounting Equation?
Assets=Liabilities + Owner's Equity
Assets=Liabilities + Owner's Drawing
Assets = Liabilities - Owner's Equity
Assets=Liable
7
Keeping Business Fianancial Records separate from Personal Financial Records
Business Entity
Business Expense
Business Decision
Business Proposal
8
Things that are owned
Owner's Equity
Accounting
Liabilities
Assets
9
If Assets = 10,000 and Liabilities = 5,500, What is Owner's Equity?
3,500
4,500
2,200
5,500
10
The action or process of keeping financial accounts.
Liabilities
Accounting
Owner's Equity
Assets
