Fun Game

Which of the financial statement will tell you the company's profitability?

• The Statement of Financial Position

• The Statement of Cashflow

• The Statement of Profit or Loss & Other Comprehensive Income

• The Statement of Changes in Equity

Which represents the correct Accounting Equation?

• Equity = Assets + Liabilities

• Liabilities = Assets - Equity

• Liabilities = Assets + Equity

• Assets = Equity - Liability

Which of the following will increase the net income?

• Decrease in doubtful debts

• Increase in depreciation

• Increase in salary expenses

• Decrease in interest received

GAAP stads for?

• Generally Accepted Accounting Policies

• General Advanced Accounting Principles

• General Advanced Accounting Policies

• Generally Accepted Accounting Principals

Under partnership ordinance, which of the following isn't the feature of partnership?

• All the profits and losses are to be shared equally.

• Without the consent of all partners, no new partners could be introduced

• Partners will receive 5% interest on Excess capital

• Partners will receive 5% interest on loans provided

Fitch Rating Agency has downgraded Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CC’ from ‘C’.

• Yes

• No

Egypt's Suez Canal was blocked by a ship belonging to a Taiwanese shipping company. What is the name of that ship?

• Ever Given

• Ever Green

• Ever Ace

• Ever Ace

What legislation does not have an impact on partnerships?

• Partnership Ordinance

• Frauds Prevention Ordinance

• Registration of Business Name's Act

• Sale of goods ordinance

Enron scandal was an accounting scandal involving with an American energy company.

• True

• False

Mark Zuckerberg introduced a brand name which brings together teir apps and technologies under one new company brand.What is that brand name?

• Meta

• Melta

• Meata

• Mate