Multiple Choice Quiz: Basic Accounting Equation

Grade Levels
8th - 12th, Higher Education, Adult Education, Homeschool
Resource Type
Formats Included
  • Zip
6 pages
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A 10-15 minute multiple-choice quiz (9 questions in total) to test the student's understanding of the basic accounting equation.

The quiz tests the student on what constitutes an asset or liability, as well as what owner's equity means. It also tests them on the accounting equation itself as well as what the equation indicates in terms of the financial position of a business.

Note that this quiz does not cover income and expenses - just assets, liabilities and owner's equity.

Separate questions document and solutions document - both in editable doc format.

Solutions sheet includes full explanations of the correct answers.

Difficulty Rating: Beginner

Quiz length: 9 questions

Time limit: 10-15 minutes

Total Pages
6 pages
Answer Key
Teaching Duration
1 hour
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