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English For Accounting

Authored by Dian Mustika

English

University

Used 1+ times

English For Accounting
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15 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

A Method of Recording All Transaction for a Business in a Specific Format

Balance Sheet

Net Income

Journal

Expense

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Explain the definition of accounting? Except

The process of recording financial transactions pertaining to a business

Accounting is a system of deadling with financial Information that provides information for decision-making

The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities.

It involves the use of credit and debt, securities, and investment to finance current projects using future income flows.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Liability

A Liability is anything that the business owes; any debts of the business. An obligation to settle a debt; money owed to someone

A list of all employees and their wages

Something that is legally owned by a person or company

The balance of cash receipts minus cash payments over a given period of time

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Why is Accounting Important? Except

Accountability

Budgeting

Taxatation

Financial Process

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Fundamental accounting equation states that: Except

Assets = Liabilities ₊ Owners Equity

Assets - Liabilities = Shareholders' Equity

Assets + Liabilities = Shareholders' Equity

Assets = Liabilities - Owners Equity

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are some Examples of Personal Liabilities? Except

Credit Line

Mortgage

Credit Customer

Credit Supplier

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A list of all employees and their wages

Balance sheet


Liquid assets

Payroll

Liability

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