Quiz 35: Account Identification Quiz

Identifying the account type (asset, liability, revenue, or expense), is an important part of the accounting transaction analysis process. Test your knowledge of mdct.ru and accounting with our online account identification quiz.

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If you need a refresher course on this topic update your knowledge using our tutorial on the accounting transaction analysis process.

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Click on an answer to reveal whether its Right! or Wrong

1. Is cash an asset, liability, revenue or expense?
Wrong
Right!
Wrong
2. Is the amount due from customers an asset, liability, revenue or expense?
Right!
Wrong
Wrong
3. Is the amount owed to suppliers an asset, liability, revenue or expense?
Wrong
Right!
Wrong

4. Is plant and equipment an asset, liability, revenue or expense?
Wrong
Wrong
Right!
5. Is the amounts owed to employees an asset, liability, revenue or expense?
Wrong
Wrong
Right!
6. Is a salary expense an asset, liability, revenue or expense?
Right!
Wrong
Wrong
7. Is inventory an asset, liability, revenue or expense?
Wrong
Right!
Wrong
8. Is a loan from a bank an asset, liability, revenue or expense?
Right!
Wrong
Wrong
9. Is fee income an asset, liability, revenue or expense?
Right!
Wrong
Wrong
10. Is a prepayment an asset, liability, revenue or expense?
Wrong
Wrong
Right!

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Quiz 35: Account Identification Quiz December 14th, 2016Team

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