Unit 1 - Financial Analysis

Unit 1 - Financial Analysis

12th Grade

15 Qs

quiz-placeholder

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Unit 1 - Financial Analysis

Unit 1 - Financial Analysis

Assessment

Quiz

Business

12th Grade

Practice Problem

Medium

Created by

Tabatha Everett

Used 1+ times

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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A business owned by one individual.

Corporation

Partnership

Service Business

Sole Proprietorship

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The rights of the owners of a business.

Charter

Equity

Assets

Liabilities

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The difference between the amounts received from customers for goods or services provided and the amounts paid for the inputs used to provide the goods or services.

Profit

Loss

Expenses

Revenue

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The liability created by a purchase on account.

Accounts Receivable

Expense

Accounts Payable

Equity

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount by which expenses exceed revenues.

Equal

Net Income

Net Loss

Accounting Equation

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An information system that provides reports to stakeholders about the economic activities and condition of a business.

Accounting

Fiscal Year

Accounting Year

Math

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An assumption that requires that financial reports be prepared assuming that the entity will continue operating in the future.

GAAP

Assets

Going Concern

Corporation

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