
Accounting 2020 4.04 Financial Statements
Authored by Bobbie Jones
Business
9th - 12th Grade
Used 3+ times

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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The costs incurred in the day-to-day operations of an organization.
Bookeeper
Profit
Revenue
Expenses
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The total amount of money received from the sale of goods or services.
Bookeeper
Profit
Revenue
Expenses
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount a company owes to suppliers for goods and services purchased with credit.
Current Assets
Account Receivable
Current Liabilities
Account Payable
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A firm’s financial obligations to short-term creditors, which must be repaid within one year.
Current Assets
Current Liabilities
Accounts Receivable
Accounts Payable
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The business determine its Financial Performance by preparing
Ledger Accounts
Trial Balance
Income Statement
Balance Sheet
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Income statement is used to calculate
Gross profit/Loss
Total Profit/Loss
Net profit/Loss
All of the Above
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Another name for the statement of Financial Position.
Balance Sheet
Income Statement
Pofit and Loss Statement
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