Accounting Quiz Bee Review #4(Financial Accounting)

Accounting Quiz Bee Review #4(Financial Accounting)

11th - 12th Grade

20 Qs

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Accounting Quiz Bee Review #4(Financial Accounting)

Accounting Quiz Bee Review #4(Financial Accounting)

Assessment

Quiz

Other, Business

11th - 12th Grade

Practice Problem

Hard

Created by

Edna Laydia

Used 55+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Financial Accounting is focused on the ____ financial statements of a company.

External

Internal

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Financial statements report the fair market value of a company.

True

False

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Large corporations must follow the ____ basis of accounting.

Expense method

cash method

Acrrual method

Deferred method

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Corporations whose stock is publicly traded must have their financial statements ____ by independent certified public accountant.

5.

FILL IN THE BLANK QUESTION

1 min • 1 pt

SEC is the acronym for _____

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

FASB is the acronym for _____.

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

GAAP is the acronym for _____.

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