
Accounting II Semester Exam
Authored by Ti Vandegriff
Life Skills
11th - 12th Grade

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Revenue that is earned one period, but not received until a later fiscal period is ____________________.
accrued interest
accrued liability
accrued revenue
current ratio
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Using the price of merchandise purchased first to calculate the cost of merchandise sold is ______________________________.
first in, first out inventory
last in, first out inventory
weighted average
real property
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount of total current assets less total current liabilities is _____________________.
dishonored note
working capital
full inventory
real property
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An amount paid for the us of money for a period of time is ______________.
payable
rental
Inventory
interest
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A ratio that shows the numeric relationship of current asset to current liabilities is the _____________________________.
late ratio
current ratio
dishonored note
fast ratio
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The value of an asset determined by tax authorities for the purpose of calculating taxes is ________________________.
real property
assessed value
current ratio
working capital
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Using the price of merchandise purchased last to calculate the cost of merchandise sold first is __________________________.
weighted average inventory costing method
first in first out inventory costing method
last in, first out inventory costing method
random inventory costing method
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