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Accounting equation practice tests. Assets 1700 Liabilities. Accounting is based on the principle of two-sided. It is NOT a guarantee that your actual test will have the same amount of questions problems nor breakdown between multiple choice questions.
To make this test more realistic time yourself to make sure that youre not just getting the correct answers but also answering at the right speed. Use a watch or clock to time yourself for this exercise. It is only a representation of what the actual test COULD be like.
Chapter 06 Activity 04 page 76 The following cash book has been prepared by the accounting clerk of Sameeras business Read more. By Kevin North Carolina USA Before you begin. Click on an answer to reveal whether its Right.
Finance Test on Practical questions on Accountancy and Accounting. 5 Tests found for Accounting Equation. The basic accounting equation is Assets Liabilities.
You can always double-check your answer by going back to the original equation assets liabilities owners equity. In order to carry out business activities the company needs funds. Accounting Skills Assessment Practice Exam Page 5 of 11 Use the following information to answer the next three questions.
Net assets if a nonprofit organization. Assets Liabilities Equity b. This corresponds to the given amount of total assets.
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