Using Financial Information and Accounting

Using Financial Information and Accounting

University

15 Qs

quiz-placeholder

Similar activities

Chapter 14 Quiz

Chapter 14 Quiz

University

10 Qs

CHAPTER 2: Financial Statements

CHAPTER 2: Financial Statements

University

10 Qs

Midterm Quiz 2 - Part 2

Midterm Quiz 2 - Part 2

University

10 Qs

Accounting in Business Quiz

Accounting in Business Quiz

University

11 Qs

Chapter 1- Financial Statement

Chapter 1- Financial Statement

University

14 Qs

HTM 241 Ch. 4 Ratios on EXAM 2

HTM 241 Ch. 4 Ratios on EXAM 2

University

13 Qs

Verification in Auditing - 2

Verification in Auditing - 2

University

10 Qs

CHAPTER  2-Accounting & Business

CHAPTER 2-Accounting & Business

University

20 Qs

Using Financial Information and Accounting

Using Financial Information and Accounting

Assessment

Quiz

Business

University

Hard

Created by

Connor Hull

Used 2+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

short-term claims that are due within a year of the date of the balance.

current liabilities

current assets

assets

liabilities

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The private organization that is responsible for establishing financial accounting standards in the United States

GAAP

FASB

IASB

IFRS

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

the amount obtained by subtracting all of a firm's expenses from its revenues, when the revenues are more than the expenses

Loss
Revenue
Cost

Net Income

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Discount on Notes Payable is a liability account.

True

False

5.

DROPDOWN QUESTION

1 min • 1 pt

When a customer purchases a product and owes the company money, what is that called?​ (a)  

Accounts Receivable
Accounts Payable
debt
supplies

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

  • Accounting is the process of collecting, recording, classifying, summarizing, reporting, and analyzing financial activities.​

True

False

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the accounting equation?

Assets = Liabilities - Owners' Equity

Revenue = Assets + Owners' Equity

Owners Equity = Liabilities + Assets

Assets = Liabilities + Owners' Equity

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?