Test in accounting

A tax _______ is a reduction in the amount of tax you owe.

• deduction

• credit

• exemption

• allowance

When a company's stock price increases significantly on its first day of public trading, this is known as a

• bull market

• bear market

• pop

• dividend

The practice of spreading investments across different assets to reduce risk is called

• hedging

• arbitrage

• diversification

• speculation

A(n) _______ is a detailed record of all financial transactions over a specific period.

• portfolio

• dividend

• asset

• ledger

The difference between a company's total assets and total liabilities is called

• revenue

• gross profit

• net worth

• cash flow

The _______ is a financial statement that shows a company's assets, liabilities, and shareholders' equity.