FABM 2 WEEK 2

FABM 2 WEEK 2

1st - 3rd Grade

5 Qs

quiz-placeholder

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FABM 2 WEEK 2

FABM 2 WEEK 2

Assessment

Quiz

Business

1st - 3rd Grade

Practice Problem

Hard

Created by

Ernesto Jr.

Used 20+ times

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5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

1. Select the most appropriate description of the statement of comprehensive income’s key features.

a. A statement of comprehensive income is like a picture that depicts a static image of an entity.

b. A statement of comprehensive income is like a moving video that depicts a moving scene of an entity.

c. A statement of comprehensive income contains assets, liabilities, and equity.

d. A statement of comprehensive income is dated ‘’As of December 31, 2016.”

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

2. Which is an appropriate date for a statement of comprehensive income?

a. “As of December 31, 2015’’

b. “For the period ended December 31, 2015”

c. Either a or b

d. Neither a nor b

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

3. Which of the following is an element of a statement of comprehensive income?

a. Cash

b. Receivable

c. Revenues

d. Interest Receivables

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

4. Which of the following is an element of a statement of comprehensive income?

a. cash equivalents

b. Capital

c. Drawing

d. Professional fees

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

5. Which of the following is an element of a statement of comprehensive income?

a. Note Payable

b. Note Receivable

c. Interest Receivable

d. Interest Expense