
Meeting 11
Authored by Marzon Efendi
Other
11th Grade
Used 1+ times

AI Actions
Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...
Content View
Student View
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Accounting is important for tracking a business’s finances. The balance sheet shows a company’s assets, liabilities, and equity at a single point in time. The income statement lists the revenues and expenses over a period to show profit or loss. The cash flow statement tracks the cash coming in and going out, which shows how much cash the company has. Key accounting principles include the matching principle, which records expenses in the same period as related revenues, and the consistency principle, which uses the same accounting methods over time.
What does the balance sheet show?
Revenues and expenses
Cash inflows and outflows
Assets, liabilities, and equity
Profit or loss
2.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Accounting is important for tracking a business’s finances. The balance sheet shows a company’s assets, liabilities, and equity at a single point in time. The income statement lists the revenues and expenses over a period to show profit or loss. The cash flow statement tracks the cash coming in and going out, which shows how much cash the company has. Key accounting principles include the matching principle, which records expenses in the same period as related revenues, and the consistency principle, which uses the same accounting methods over time.
Which financial statement lists revenues and expenses over a period?
Balance Sheet
Cash Flow Statement
Income Statement
Statement of Retained Earnings
3.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Accounting is important for tracking a business’s finances. The balance sheet shows a company’s assets, liabilities, and equity at a single point in time. The income statement lists the revenues and expenses over a period to show profit or loss. The cash flow statement tracks the cash coming in and going out, which shows how much cash the company has. Key accounting principles include the matching principle, which records expenses in the same period as related revenues, and the consistency principle, which uses the same accounting methods over time.
What does the cash flow statement track?
Profit or loss
Assets and liabilities
Cash coming in and going out
Equity changes
4.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Accounting is important for tracking a business’s finances. The balance sheet shows a company’s assets, liabilities, and equity at a single point in time. The income statement lists the revenues and expenses over a period to show profit or loss. The cash flow statement tracks the cash coming in and going out, which shows how much cash the company has. Key accounting principles include the matching principle, which records expenses in the same period as related revenues, and the consistency principle, which uses the same accounting methods over time.
Which principle requires recording expenses in the same period as related revenues?
Consistency Principle
Matching Principle
Revenue Recognition Principle
Accrual Basis
5.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Accounting is important for tracking a business’s finances. The balance sheet shows a company’s assets, liabilities, and equity at a single point in time. The income statement lists the revenues and expenses over a period to show profit or loss. The cash flow statement tracks the cash coming in and going out, which shows how much cash the company has. Key accounting principles include the matching principle, which records expenses in the same period as related revenues, and the consistency principle, which uses the same accounting methods over time.
Which principle ensures the same accounting methods are used over time?
Matching Principle
Accrual Basis
Consistency Principle
Conservatism Principle
6.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Accounting involves several key financial statements that provide insights into a business’s financial status. The balance sheet details a company’s assets, liabilities, and equity at a specific date. The income statement summarizes revenues and expenses over a period to determine net income. The cash flow statement reports cash inflows and outflows from operating, investing, and financing activities. Financial accounting focuses on preparing reports for external stakeholders, while managerial accounting is used for internal decision-making. Key principles include the accrual basis, which records revenues and expenses when they occur, and the matching principle, which aligns expenses with the revenues they help generate.
Which financial statement provides details on a company’s assets, liabilities, and equity at a specific date?
Income Statement
Balance Sheet
Cash Flow Statement
Statement of Retained Earnings
7.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Accounting involves several key financial statements that provide insights into a business’s financial status. The balance sheet details a company’s assets, liabilities, and equity at a specific date. The income statement summarizes revenues and expenses over a period to determine net income. The cash flow statement reports cash inflows and outflows from operating, investing, and financing activities. Financial accounting focuses on preparing reports for external stakeholders, while managerial accounting is used for internal decision-making. Key principles include the accrual basis, which records revenues and expenses when they occur, and the matching principle, which aligns expenses with the revenues they help generate.
What does the income statement summarize?
Revenues and expenses
Cash inflows and outflows
Assets and liabilities
Financial position
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
Already have an account?
Similar Resources on Wayground
20 questions
Wings of Fire Book 1 Quiz!!!
Quiz
•
2nd - 12th Grade
15 questions
Organisational Charts
Quiz
•
10th - 11th Grade
25 questions
Peranan indonesia dalam perdamaian dunia
Quiz
•
11th Grade
15 questions
Cache Childcare unit 1
Quiz
•
10th - 12th Grade
15 questions
STOCK MARKET
Quiz
•
8th Grade - University
16 questions
Adopt me Questions #1
Quiz
•
KG - University
20 questions
Uji Pemahaman Prakarya-Pengolahan Kelas XI (KD 3.6)
Quiz
•
11th Grade
18 questions
Map Skills/Vocabulary Review
Quiz
•
9th - 12th Grade
Popular Resources on Wayground
15 questions
Fractions on a Number Line
Quiz
•
3rd Grade
20 questions
Equivalent Fractions
Quiz
•
3rd Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
54 questions
Analyzing Line Graphs & Tables
Quiz
•
4th Grade
22 questions
fractions
Quiz
•
3rd Grade
20 questions
Main Idea and Details
Quiz
•
5th Grade
20 questions
Context Clues
Quiz
•
6th Grade
15 questions
Equivalent Fractions
Quiz
•
4th Grade
Discover more resources for Other
20 questions
-AR -ER -IR present tense
Quiz
•
10th - 12th Grade
15 questions
Making Inferences
Quiz
•
7th - 12th Grade
15 questions
Main Idea and Supporting Details.
Quiz
•
4th - 11th Grade
12 questions
Add and Subtract Polynomials
Quiz
•
9th - 12th Grade
7 questions
How James Brown Invented Funk
Interactive video
•
10th Grade - University
15 questions
Atomic Habits: Career Habits
Lesson
•
9th - 12th Grade
16 questions
ACT English - Grammar Practice #2
Quiz
•
11th Grade
20 questions
Banking
Quiz
•
9th - 12th Grade