Formative Quiz - Financial and Management Accounting

Formative Quiz - Financial and Management Accounting

University

15 Qs

quiz-placeholder

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Formative Quiz - Financial and Management Accounting

Formative Quiz - Financial and Management Accounting

Assessment

Quiz

Business

University

Medium

Created by

Sarthak Mondal

Used 2+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A _____________ reflects the company’s position by showing what the company owes and what it owns.

Income Statement

Cash flow forecast

Balance Sheet

P/L Account

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

________________ is an asset that is not physical in nature.

Tangible Assets

Intangible Assets

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This refers to an accounting method used to allocate the cost of a tangible or physical asset over its useful life.

Depreciation

Amortisation

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

_________________ is an indicator of a company’s short-term liquidity position and measures a company’s ability to meet its short-term obligations with its most liquid assets.

Current Ratio

Quick Ratio

Debt Ratio

Gearing Ratio

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The following is the formula to calculate Gross Profit

Revenue - Cost of Sales

Revenue - All Expenses

Revenue + Cost of Sales

Expenses + Cost of Sales

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An accounting term for a company that has the resources needed to continue operating indefinitely until it provides evidence to the contrary

Liquidity

Assets

Liabilities

Going Concern

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the formula for cost of sales?

Opening Stock - Purchases + Closing Stock

Opening Stock + Purchases + Closing Stock

Opening Stock + Purchases - Closing Stock

Opening Stock - Purchases - Closing Stock

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