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Seventh Grade (Grade 7) Accounting Worksheets - Create Printable Tests and Worksheets

Create printable tests and worksheets from Grade 7 Accounting questions. Select questions to add to a test using the checkbox above each question.

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Accounting

2 votes

When calculating the Owner's Equity, what math problem would be correct?
1. Revenue - Expenses
2. Revenue - Liabilities
3. Assets - Liabilities
4. Assets - Expenses
5. None of the above

Accounting

1 vote

An example of an Expense would be .
1. Advertising
2. Payroll
3. Sale of equipment
4. Electric bill
5. All, except "C"

Accounting

1 vote

A Balance Sheet consists of the following:
1. Assets, expenses and owner's equity
2. Assets, revenuse and net loss
3. Assets, liabilities and owner's equity
4. Assets, liabilities and net income
5. none of the above

Accounting

1 vote

On an Income Statement one will find:
1. Assets, liabilities and owner's equity
2. Assets, expenses and owner's equity
3. Revenue, assets and net income
4. Revenue, expenses and net income
5. None of the above

Accounting

Occasionally businesses will lose money. When does this become a problem and the business may have to close?
1. This is never a problem
2. This is a problem when Liabilities are high
3. This is a problem when Expenses are high
4. This is a problem when Revenue and assets are high
5. This is a problem when there is a net loss every month

Accounting

An Employer
1. Hires and fires people to complete a job
2. Bosses people around
3. Someone owned by a business
4. Someone who owes the business

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