S2AC - Fun Quiz

S2AC - Fun Quiz

9th - 12th Grade

8 Qs

quiz-placeholder

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S2AC - Fun Quiz

S2AC - Fun Quiz

Assessment

Quiz

Financial Education

9th - 12th Grade

Practice Problem

Medium

Created by

laoshi lim

Used 1+ times

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8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which are the following are not include in the trading section of Statement of Profit or Loss?

Carriage Inward

Commission Income

Import Duty

Stocks Returns

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is typically included in the gross profit calculation in the Statement of Profit or Loss?

Operating Expenses

Administrative Expenses

Sales Returns

Net Sales

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which following statement is true?

Total Equity + Total Current Liabilities = Total Assets

Land should be depreciate every year.

Current Assets is less than 12 months

Inventory has higher liquidity than Accounts Receivable.

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following is considered a current liability?

Accounts Payable

Long-term Debt

Property, Plant, and Equipment

Retained Earnings

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following is not a component of working capital?

Inventory

Long-term Investments

Accounts Receivable

Cash

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Which of the following are included in fundamental accounting principle & concepts?

Inconsistency

Materiality

Subjectivity

Business Entity

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which month comes after April?

March

June

May

July

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