Accounting Basics Flashcard

Accounting Basics Flashcard

Assessment

Flashcard

Other

8th Grade

Practice Problem

Medium

Created by

Wayground Content

Used 1+ times

FREE Resource

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10 questions

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1.

FLASHCARD QUESTION

Front

Which one of the following items is not found on a Balance Sheet? Cash, Gross Profit, Assets, Liabilities

Back

Gross Profit

2.

FLASHCARD QUESTION

Front

Which accounting system most accurately reflects profitability? Cash Accounting, Flow of Funds Accounting, Accrual Accounting

Back

Accrual Accounting

3.

FLASHCARD QUESTION

Front

An account receivable is:

Back

An Asset

4.

FLASHCARD QUESTION

Front

Which of the following is most important to the daily operations of a business? Assets, Retained Earnings, Cash

Back

Cash

5.

FLASHCARD QUESTION

Front

When people speak about the bottom line, they are referring to:

Back

Net Profit

6.

FLASHCARD QUESTION

Front

A prepaid expense is

Back

an Asset

7.

FLASHCARD QUESTION

Front

Which would you find on an Income Statement? Expense, Fixed Asset, Liability

Back

Expense

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