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Twelfth Grade (Grade 12) Accounting Worksheets - Create Printable Tests and Worksheets

Create printable tests and worksheets from Grade 12 Accounting questions. Select questions to add to a test using the checkbox above each question.

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Accounting

4 votes

A business owned by one person is called .
1. asset
2. proprietorship
3. equity
4. accounting

Accounting

A partnership must pay federal income taxes.
1. True
2. False

Accounting

When the partnership agreement provides for salary allowances or interest allowances, any remaining net income or loss is credited to the Retained Earnings account.
1. True
2. False

Accounting

A form for recording transactions in chronological order
- Journal

Accounting

1 vote

Anything of value that is owned
- Asset

Accounting

Financial Rights to the Assets of a Business.
- Equities

Accounting

A list of accounts used by a business.
- Chart of Accounts

Accounting

Anything of value that is owned.
- Asset

Accounting

What is the accounting equation?
- Assets = Liabilities & Equity
  or
  Debit = Credits

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