
Bell Ringer Chapter 8-Lesson 3-4
Authored by John Adams
Business
11th - 12th Grade
Used 3+ times

AI Actions
Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...
Content View
Student View
8 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Adam wants to find out the assets and liabilities of a company. Which financial statement should Adam read to find out this information?
Income Statement
Statement of Profit and Loss
Balance Sheet
Statement of Cash Flows
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of external users of accounting information?
Owners
Analysts
Directors
Managers
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What statement(s) do external and internal users of accounting information rely on?
Balance Sheet
Income Statement
Statement of Cash Flows
All answers are correct.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Monica reads in the newspaper that in the year ended December 31, 2015, Profit For Two Inc made $1 million profit. Monica wants to confirm for herself that this is really the case. What financial statement of Profit For Two Inc should Monica read to confirm the newspaper report?
The income statement.
The balance sheet.
The statement of retained earnings.
The statement of cash flows.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
GAAP sets the standards for the creation of what?
Income Statement
Statement of Retained Earnings
Balance Sheet
All answers are correct
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of how publicly-traded companies can apply the principle of conservatism with their financial statements?
Recognizing a potential gain from a lawsuit immediately.
Recognizing the cost of goods sold after the company's inventory has been exhausted.
Recognizing accounts payable immediately on the financial statements.
All answers are correct
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which company, listed on the New York Stock Exchange would definitely be in breach of the Going Concern Principle?
Company B, which has made a net loss this financial year.
Company C, which shows a net cash outflow in its statement of cash flows.
Company D, which has run out of cash and is now not able to pay its creditors
Company A, which has decided to issue new shares to foreign nationals.
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
Already have an account?
Similar Resources on Wayground
10 questions
Departmental Undertaking quiz
Quiz
•
11th Grade
11 questions
LIBF- UNIT 2 TOPIC 8
Quiz
•
10th - 11th Grade
13 questions
Entre2 ASK Practice Exam Part 4 (#38-50)
Quiz
•
9th - 12th Grade
10 questions
Word of the Day Group 4
Quiz
•
11th Grade
10 questions
Prueba sobre ISO 26000:2010
Quiz
•
12th Grade
9 questions
Accounting Concepts
Quiz
•
11th Grade
13 questions
National Employment Standards
Quiz
•
7th - 12th Grade
10 questions
EOPA Prep 3
Quiz
•
12th Grade
Popular Resources on Wayground
15 questions
Fractions on a Number Line
Quiz
•
3rd Grade
20 questions
Equivalent Fractions
Quiz
•
3rd Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
54 questions
Analyzing Line Graphs & Tables
Quiz
•
4th Grade
22 questions
fractions
Quiz
•
3rd Grade
20 questions
Main Idea and Details
Quiz
•
5th Grade
20 questions
Context Clues
Quiz
•
6th Grade
15 questions
Equivalent Fractions
Quiz
•
4th Grade