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Assets

Authored by Janice Cunan

Business

University

Used 159+ times

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10 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

It is a financial statement that reports the assets, liabilities, and equity of a company on a given date.

Statement of Income

Statement of Financial Position

Statement of Cash Flow

Statement of Changes in Equity

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

"A/An ________ is a resource controlled by the enterprise as a result of past events and from which future economic benefits are expected to flow to the enterprise.”

Asset

Liability

Owner's Equity

None of the above

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Includes coins, currencies, checks, bank deposits, and other cash items readily available for use in the operations of the business.

Cash

Receivables

Payables

Securities

4.

MULTIPLE SELECT QUESTION

1 min • 1 pt

What are the three elements of financial position?

Assets

Expenses

Liabilities

Owner's Equity

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

It is the amount collectible from the customer to whom sales have been made or services have been rendered on account or credit.

Notes Receivable

Interest Receivable

Accrued Income

Accounts Receivable

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

It is a promissory note issued by the client or the customer in exchange for services or goods received as evidence of his/her obligation to pay.

Accounts Receivable

Notes Receivable

Interest Receivable

Accrued Income

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Stocks and bonds purchased by the enterprise and are to be held for only a short span of time or short duration.

Marketable Securities

Government Bonds

Cash Equivalents

Non-current assets

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