POB - Unit 6 Review 2
Quiz
•
9th - 12th Grade
•
Medium
shantel mitchell
Used 20+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Businesses would note be able to determine if they are meeting their financial goals without accurate:
production plans.
marketing plans.
accounting systems.
distribution systems.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Businesses use the information collected through the accounting process to prepare accurate:
balance sheets.
purchase orders.
Inventory forms.
promissory notes.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The process of keeping the financial records of a business is known as
accounting
controlling
financing
bookkeeping
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following categories of information are found on a balance sheet:
Income, expenditures, profit
Assets, liabilities, owner's equity
Assets, liabilities, margin
Revenues, expenses, profit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following makes comparisons of the financial conditions at multiple organizations possible:
Bookkeeping
Source documents
Accounting standards
Trial balance
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of accounting method would most likely be used by a small business owner who does not offer credit?
Check method
Cash method
COD method
Accrual method
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a Liability?
Rent payable
Cash
Capital
Rent receivable
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