REVIEW 2 Quiz

REVIEW 2 Quiz

University

28 Qs

quiz-placeholder

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REVIEW 2 Quiz

REVIEW 2 Quiz

Assessment

Quiz

English

University

Practice Problem

Medium

Created by

Nguyen Ngoc

Used 2+ times

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28 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Assets , for example, buildings, machines are intangible assets.

TRUE

FALSE

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The two sides of a balance sheet always have the different total.

TRUE

FALSE

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The accounting equation can be rewritten as Assets – Liabilities = Net Assets.

TRUE

FALSE

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Company profit is usually divided into three ways: into dividends, production cost and earnings.

TRUE

FALSE

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does a balance sheet show?

The company’s assets, liabilities, and capital.

The company’s revenues and expenses.

The company’s directors and staff

The company’s employers and employees

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Assets that a company needs in order to operate its business over a long period of time are called _________.

current assets

intangible assets

tangible assets

long-term assets

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best explains the term ‘non-current asset’ ?

Common shares

Account receivable

Inventories

Machines

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