Unit 27-1

is a branch of accounting that is always produce report for outsider parties.

• A. Accounting

• B. Financial Accounting

• C. Managerial Accounting

• D. Project Accounting

is a branch of Accounting that provide accurate and timely financial and statistical information required by managers to make day-to-day and short-term decisions.

• A. Accounting

• B. Financial Accounting

• C. Managerial Accounting

• D. Project Accounting

----------------------------------is a branch of accounting that is interested in the financial success of the company’s project.

• A. Accounting

• B. Financial Accounting

• C. Managerial Accounting

• D. Project Accounting

Financial Accounting prepare financial statements according to -------------------

• A. SOCPA

• B. GAAP

• C. CMA

• D. CPA

All are financial statements except for -------------------------------------------------

• A. Statement of financial position.

• B. Statement of cash flows

• C. Cost of goods sold account.

• D. Profit and loss statement.

Are resources owned by the business and expected to benefit future operations

• A. Liabilities

• B. Assets

• C. Equity

• D. All of the above.

is another name of the Accounting equation.

• A. Income equation

• B. Profit and loss equation

• C. Balance sheet equation

• D. All of the above.

Owner’s equity equals -------------------------------------------------------------

• A. Liabilities + Assets

• B. Assets – Liabilities

• C. Assets + revenues

• D. Liabilities – expenses

Aramex has total current assets equals 13,000 S.R, buildings 23,000 S.R, land 14,000 S.R , Notes payable 5,000 S.R, rent payable 5,000 S.R, Loan from Riyadh bank 15,000 S.R, the owner invested --------------------------------------.

• A. 3000 S.R

• B. 30,000 S.R

• C. 25,000 S.R

• D. 2500 S.R

------------------------resources owned by the business used to run the business operations.

• A. Assets

• B. Liabilities

• C. Capital

• D. All of the above.