Accounting study guide

Accounting study guide

University

15 Qs

quiz-placeholder

Similar activities

MIGRACION

MIGRACION

University

10 Qs

Neurotransmitter

Neurotransmitter

University - Professional Development

15 Qs

Founder's Week

Founder's Week

University

11 Qs

Introduction to Hemostasis Quiz 1

Introduction to Hemostasis Quiz 1

University

20 Qs

Discounted Room rates

Discounted Room rates

University

10 Qs

Recreo con Propósito

Recreo con Propósito

University

10 Qs

Literatura 1-2

Literatura 1-2

12th Grade - University

20 Qs

Conheces os teus dirigentes?

Conheces os teus dirigentes?

1st Grade - Professional Development

11 Qs

Accounting study guide

Accounting study guide

Assessment

Quiz

Other

University

Practice Problem

Hard

Created by

Ladarwin Cumby_Jr

FREE Resource

AI

Enhance your content in a minute

Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Accounting Equation:

Beginning Capital + Investments ± Net Income (Loss) - Withdrawals.

Assets = Liabilities + Stockholders Equity

Revenue - Expenses

 Initial capt. Investment + net income - withdrawals

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Net Income Equation:

Beginning Capital + Investments ± Net Income (Loss) - Withdrawals

 Liabilities + Stockholders Equity

Revenue - Expenses

 Initial capt. Investment + net income - withdrawals

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Change in capitol:

Revenue - Expense

Beginning Capital + Investments ± Net Income (Loss) - Withdrawals.

 Liabilities + Stockholders Equity

Initial capt. Investment + net income - withdrawals

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

business transaction:

Published changes to accounting standards that are the source of updates to the Accounting Standards Codification.

The authoritative body that has the primary responsibility for developing accounting principles.

An electronic database maintained by the Financial Accounting Standards Board (FASB) that contains all of the accounting standards that make up the generally accepted accounting principles (GAAP).

an economic event or condition that directly changes an entity’s financial condition or its results of operations.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

generally accepted accounting principles (GAAP):

Generally accepted guidelines for the preparation of financial statements.

The authoritative body that has the primary responsibility for developing accounting principles.

An agency of the U.S. government that has authority over the accounting and financial disclosures for companies whose shares of ownership (stock) are traded and sold to the public.

An electronic database maintained by the Financial Accounting Standards Board (FASB) that contains all of the accounting standards that make up the generally accepted accounting principles (GAAP).

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Financial Accounting Standards Board (FASB)

The authoritative body that has the primary responsibility for developing accounting principles.

The journal entries that bring the accounts up to date at the end of the accounting period.

Published changes to accounting standards that are the source of updates to the Accounting Standards Codification.

An organization that issues International Financial Reporting Standards for many countries outside the United States.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Accounting Standards Updates

A summary of the revenue and expenses for a specific period of time, such as a month or a year.

An agency of the U.S. government that has authority over the accounting and financial disclosures for companies whose shares of ownership (stock) are traded and sold to the public.

Published changes to accounting standards that are the source of updates to the Accounting Standards Codification.

an economic event or condition that directly changes an entity’s financial condition or its results of operations.

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?