Below Balance Sheet quiz are Multiple Choice Questions (MCQs) type Quiz. These Balance Sheet MCQ Questions helps you to refresh your Balance Sheet, you can see the correct option by clicking on it. .
1. Select the item which is not a component of a balance sheet.
Fixed Assets
Current Assets
Current Liabilities
Expenses
2. On a balance sheet, if total assets are $15,000 and Total Liabilities are $10,000. Owner's Equity will equal:
5,000
25,000
7,500I
3. Which of these does a balance sheet show
How much gross profit a business made
Its total revenue
What a business owns and owes
How much it paid in rent
4. What is the name given to the owner's or proprietor's account in the business?