Lee University Accounting 1
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Sole partnership | One owner
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| Partnership | Two or more owners
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| Corporation | Many owners
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| Merchandising | Buy and sell products
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| Service | Sell a specific service
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| Manufactoring | Make and sell products
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| Business entity | Separate business and personal records
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| Monetary unit | Maintain business records in currency
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| Going concern | Business will continue to make money past the current period
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| Periodicity | Determine profits/losses periodically
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| Asset | Right to use resource
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| Liability | Obligation to transfer resources in the future to suppliers of goods and services
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| Owners Equity | Net assets or net liabilities belong to owners
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
woottont
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