MGMT 210 Module 2 Quiz #2.docx - MGMT 210 Financial Accounting Module 2 Quiz#2 1 A debt that a business owes is called A revenue B an asset C

MGMT 210 Module 2 Quiz #2.docx - MGMT 210 Financial...

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MGMT 210 Financial AccountingModule 2 Quiz #21. A debt that a business owes is called ____.A. revenueB. an assetC. stockholder’s equityD. a liability2. ________ are professional accountants who serve the generalpublic,not one particular company.3. A business purchases equipment in exchange for a note payable. This transaction results in ____.4. The trial balance verifies the equality of debits and credits on a specific date.5. The accounts that are used in a worksheet are taken from and listed in the same order as the ____.A. journalB. audit reportC. chart of accountsD. balance sheer
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