Accounting progress check

This type of Accounting needs to comply with external rules and principles.

• Management

• Cost

• Financial

• Budgets

Assets = Liabilities+SE is:

• accounting rule

• accounting equation

• accounting principle

• double-entry rule

Are organized from most to least liquid:

• expenses

• SE´s accounts

• liabilities

• assets

This financial statement presents the profit or loss registered in the period

• income statement

• balance sheet

• cash-flow statement

• statement of SE

The cashflow statement is divided into ______ sections.

• 4

• 2

• 3

• 5

Assets increase with:

• debit

• credit

• depends on the type of asset

We sell one of the company´s vehicles and the client pays cash. In which category of the cashflow statement does it need to go?

• none of the options is correct

• financing

• operating

• investing

If customers pay us in advance, which accounts are affected?

• cash and sales

• cash and expenses

• cash and liabilities

• liabilities and sales

Represents a cash outflow:

• sale of an office equipment

• issue of new shares

• collect $ from customers

• repurchase of shares

If we make credit sales, which asset account will immediately increase?

• cash

• accounts receivable

• accounts payable

• prepaid expenses