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Inhertited Iras Cover Image

U-QUIZ: THE LEGDER LEAGUE

Su Logo

QUIZ 3

User NameStartEndDurationScore
Mahnoor Fatani23:23:57 Apr 30, 202523:26:10 Apr 30, 20252 minutes 13 seconds100%
Erwin Gonzalez13:40:49 Apr 30, 202513:42:33 Apr 30, 20251 minutes 44 seconds100%
Iscleiry Pujols09:59:39 Apr 30, 202510:00:57 Apr 30, 20251 minutes 18 seconds100%
Iscleiry Pujols09:53:03 Apr 30, 202509:54:37 Apr 30, 20251 minutes 34 seconds75%
Joslin Zakharia09:24:41 Apr 30, 202509:24:59 Apr 30, 202518 seconds100%
Joslin Zakharia09:17:22 Apr 30, 202509:18:22 Apr 30, 20251 minutes 75%

You've run out of time!


Business Applications 01

Sassetti U 2025 - Quiz 3

1 / 4

Which of the following is not considered an adjusting journal entry?

The correct answer was C:
Explanation: Buying equipment with cash is a regular transaction, not an adjusting entry.

Correct! C
Explanation: Buying equipment with cash is a regular transaction, not an adjusting entry.

2 / 4

You just started a summer landscaping business and bought a $2,000 mower on credit. How does this transaction affect the accounting equation?

The correct answer was A:
Explanation: The mower increases assets, and because it was bought on credit, liabilities also increase.

Correct! A
Explanation: The mower increases assets, and because it was bought on credit, liabilities also increase.

3 / 4

You find $1,000 in unrecorded revenue in a company's bank deposit slip from last week. What impact would this have on the accounting equation if corrected?

The correct answer was B:
Unique angle: This is one of those “oops” moments that turns into a win — both cash and owner’s equity go up once the error is corrected.

Correct! B, again. 
Unique angle: This is one of those “oops” moments that turns into a win — both cash and owner’s equity go up once the error is corrected.

4 / 4

Which of the following best describes the matching principle in accounting?

The Correct Answer was: B
Fun twist:
Imagine a bakery selling cupcakes in December. The cost of flour and frosting used in those December sales should be recorded in… you guessed it — December! That’s the matching principle in action.

Correct! B
Fun twist:
Imagine a bakery selling cupcakes in December. The cost of flour and frosting used in those December sales should be recorded in… you guessed it — December! That’s the matching principle in action.

Your score is

The average score is 92%

0%

QUIZ 2

User NameStartEndDurationScore
Erwin Gonzalez13:36:07 Apr 30, 202513:38:03 Apr 30, 20251 minutes 56 seconds100%
Iscleiry Pujols09:55:05 Apr 30, 202509:56:36 Apr 30, 20251 minutes 31 seconds75%
tamara13:11:01 Apr 29, 202513:12:58 Apr 29, 20251 minutes 57 seconds100%
Mahnoor Fatani20:11:20 Apr 09, 202520:12:20 Apr 09, 20251 minutes 100%
Joslin Zakharia21:32:20 Apr 08, 202521:32:30 Apr 08, 202510 seconds100%
Joslin Zakharia21:31:51 Apr 08, 202521:32:04 Apr 08, 202513 seconds75%
Joslin Zakharia21:30:17 Apr 08, 202521:31:03 Apr 08, 202546 seconds50%
Jesus Rubio21:25:41 Apr 08, 202521:27:25 Apr 08, 20251 minutes 44 seconds50%

You've run out of time!


Business Applications 01

Sassetti U 2025 - Quiz 2

1 / 4

When conducting an audit, what is the purpose of performing analytical procedures?

2 / 4

As a student, which federal tax form should you use to report income, deductions, and credits?

3 / 4

Which of the following situations may require a student to file a state income tax return?

4 / 4

When filing federal income taxes as a student, which of the following statements is true?

Your score is

The average score is 81%

0%

QUIZ 1

User NameStartEndDurationScore
Erwin Gonzalez11:11:21 Apr 30, 202511:14:24 Apr 30, 20253 minutes 3 seconds80%
Iscleiry Pujols09:57:19 Apr 30, 202509:58:56 Apr 30, 20251 minutes 37 seconds100%
Samuel Girard21:15:34 Apr 08, 202521:15:59 Apr 08, 202525 seconds80%
Mahnoor Fatani20:23:37 Apr 02, 202520:24:39 Apr 02, 20251 minutes 2 seconds40%
Mahnoor Fatani20:21:58 Apr 02, 202520:23:00 Apr 02, 20251 minutes 2 seconds20%
Joslin Zakharia23:46:51 Apr 01, 202523:47:12 Apr 01, 202521 seconds100%
Joslin Zakharia23:43:32 Apr 01, 202523:44:14 Apr 01, 202542 seconds100%
Joslin Zakharia23:42:00 Apr 01, 202523:43:02 Apr 01, 20251 minutes 2 seconds60%
Iscleiry Pujols18:33:47 Apr 01, 202518:34:49 Apr 01, 20251 minutes 2 seconds60%

You've run out of time!


Business Applications 01

Sassetti U 2025 - Quiz 1

1 / 5

This organization is the oldest and most influential of all accounting organizations, which guides the development of accounting-related principles and concepts.

2 / 5

Which of the following is the equation for proving cash:

3 / 5

Accounts Receivable is credited when merchandise is purchased on account.

4 / 5

You've just been hired at a great new startup. The only problem is that it is fairly far away from where you live. You determine it would cost $12 a day if you took public transportation and $16 a day if you take your car. How much cheaper would it be to take public transportation over the course of a month assuming you work 22 days?

Incorrect. $16 (cost of car travel) - $12 (cost of public transportation) = $4

$4 (difference in cost) x 22 (work days in a month) = $88

Correct! $16 (cost of car travel) - $12 (cost of public transportation) = $4

$4 (difference in cost) x 22 (work days in a month) = $88

5 / 5

Roberto has 25 hours of vacation at the beginning of the pay period. He earns a total of 2.5 hours of vacation every pay period. Assuming he doesn't use any, how many pay periods before he has 40 hours of vacation time available?

Incorrect.

40 (Hours goal) - 25 (hours already earned) = 15

15 (Hours left to earn) / 2.5 (Hours earned per pay period) = 6 (Pay periods)

Correct!

40 (Hours goal) - 25 (hours already earned) = 15

15 (Hours left to earn) / 2.5 (Hours earned per pay period) = 6 (Pay periods)

Your score is

The average score is 71%

0%

Once completed, refresh the page for your results on the leaderboard.

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