Lesson 1 - Quiz

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Lesson 1 - Quiz

Young Investors Workshop Day 1 Quiz

David has a $200 computer. What would this be considered? *

20 points

Cash

Asset

Liability

Expense

What happens when you make a purchase on a credit card? *

20 points

You owe money to a credit card company

You receive money from your mom

You get something for free

None of the above

What does ALOE stand for? *

20 points

Assets Liabilities Or Expenses

Actual Liabilities and Owners Equity

Amiable Lemurs On Equine

Assets Liabilities Owners Equity

Which of the following are reasons to understand basic accounting? Choose all that apply. *

20 points

To make better financial decisions so you have more freedom

To reduce stress from finances later in life

To work towards goals that are important to you but seem too big at first

To get the newest clothes

Required

Billy invests $10,000 into his company. Which of his company’s accounts would go up? *

20 points

Owners Equity & Liabilities

Cash & Liabilities

Owners Equity & Cash

Drawing & Accounts Receivable

Submit

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