
Financial Terminology knowledge check
Authored by Javeria Malik
Social Studies
12th Grade
Used 3+ times

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40 questions
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1.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
A system of recording and reporting financial activity is called
Finance
Budget
audit
Accounting
2.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Things owned by a company
profit
loss
assets
liablities
3.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Net worth of a business
financial statement
balance sheet
Income statement
Owners Equity
4.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Money owed by a business
profit
assets
loss
liabilities
5.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
A plan that shows what you expect to earn and spend in a certain period of time
Fiscal period
budget
financial statement
Income statement
6.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
a written report which describes the financial health of a company
Owner's Equity
statement of change
income statement
financial statement
7.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
cost of maintaining and operating a business
loss
assets
profit
expense
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