
Accounting Terms 3
Authored by Jose Soto
Business
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is earned interest revenue?
Money received for the use of liabilities
Money received for the use of money loaned
Money received for the use of equity
Money received for the use of assets
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is encroachment in accounting?
Using unrestricted moneys to support unrestricted program expenditures
Using restricted moneys to support restricted program expenditures
Using restricted moneys to support unrestricted program expenditures
Using unrestricted moneys to support restricted program expenditures
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are encumbrances in accounting?
Obligations chargeable to an appropriation for which a part of the appropriation is reserved
Liabilities reserved for future use
Assets reserved for future use
Deferred inflows of resources
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an entitlement in accounting?
An apportionment based on specific qualifications or formula defined in statute
An apportionment based on general guidelines
An apportionment based on market conditions
An apportionment based on discretionary decisions
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What do equity accounts represent?
The difference between assets and liabilities
The difference between assets and deferred outflows of resources
The difference between liabilities and deferred inflows of resources
The ratio (expressed as a percentage) of the indirect costs to direct base costs
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are expenses in accounting?
Charges incurred for capital expenditures
Charges incurred for long-term investments
Charges incurred for operations, maintenance, interest, and other charges that benefit the current fiscal period
Charges incurred for operations, maintenance, interest, and other charges that benefit the future fiscal period
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a fund in accounting?
A fiscal and accounting entity with no liabilities
A fiscal and accounting entity with no restrictions
A fiscal and accounting entity with unlimited resources
A fiscal and accounting entity with a self-balancing set of accounts
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