
Chapter 4 test review
Authored by Julie E Kelly
Business
11th Grade
Used 1+ times

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14 questions
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1.
DRAG AND DROP QUESTION
30 sec • 1 pt
(a) offers an ownership interest to investors.
2.
DROPDOWN QUESTION
30 sec • 1 pt
The steps completed to ensure the accuracy of accounting records are known as (a)
3.
DRAG AND DROP QUESTION
30 sec • 1 pt
A set of processes, people, and equipment for converting data into information is called (a) .
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are profits earned by a company that are not paid to shareholders as dividends?
Retained earnings
Solvency
Equity financing
Financial leverage
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is responsible for carrying out the strategy and policy of the board of directors?
Chief executive officer
Controller
Accountant
Financial leverage
6.
MATCH QUESTION
30 sec • 1 pt
Match the following financial reports with their descriptions.
Comprehensive report on a company's activities throughout the preceding year.
Statement of Cash Flows
Provides information about the cash inflows and outflows during a period.
Income Statement
Shows the company’s revenues and expenses over a specific period.
Annual Report
Contains the company’s total assets, liabilities, and owner’s equity and how each category is divided.
Balance Sheet
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the accounting equation?
Assets = Liabilities + Owner’s Equity
Revenue = Expenses + Profit
Cash = Assets - Liabilities
Income = Revenue - Expenses
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