Accounting and Finance Quiz

Accounting and Finance Quiz

University

53 Qs

quiz-placeholder

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Accounting and Finance Quiz

Accounting and Finance Quiz

Assessment

Quiz

English

University

Practice Problem

Easy

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53 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

The order of the Equity account in a Balance sheet is defined by ________ .

custom and tradition

a fancy way of saying pay

the order of their liquidity

All ways

2.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

A company has $3,000,000 in Owners' Equity and $275,000 in liabilities. What are the assets of the company?

$3,275,000

$2,025,000

$250,000

$1,250,000

3.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Liabilities that are expected to be paid sometime after the next year are _________

Current liabilities

Current assets

Non-current assets

Non-current liabilities

4.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

___________ is to show the inflows and outflows, the changes in the balance of cash and cash equivalents during a certain accounting period arising from the operating, investing, and financing activities of an enterprise.

The Statement of Cash Flow

The Income Statement

The Statement of Retained Earnings

The Balance Sheet

5.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Which is the closest meaning to the phrase: ' late, not returned as expected?

overdue

knack

buck

pay off

6.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Which of the following items is not the main section in a Balance Sheet?

Assets

Liabilities

Equity

Unearned revenues

7.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Which is the most common form of Rent expenses account in the Income statement?

Rent expenses

Rent

Rent liability

liabilities

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