BE Unit 4 4.01

Front

The accounting document that shows a business’s revenue and expenses is a/an:

Back

income statement

Front

Kathy wants to know whether her boutique made or lost money this month. The financial document she should view is her:

Back

income statement

Front

Isabelle owns a home cleaning business. She invoices her customer and records the transaction as soon as she finishes each home cleaning. Which type of accounting method is Isabelle using?

Back

accrual

Front

The finance activity regarding how to source income is called:

Back

acquiring funds

Front

The Happy Toys Company Board of Directors has decided to give some of its profits from the year to its shareholders. It has decided to pay a:

Back

dividend

Front

Which represents the inflow of funds into a business?

Back

cash

Front

The purpose of having accounting standards is to:

Back

create uniformity between financial statements