Fundamentals of Accountancy Quiz

What is the process of receiving money, planning, and allocating it according to one’s needs?

What is the original (non-deducted) payment received by either doing services or selling goods?

What is the cost a company incurs to generate revenues?

What is the term for revenues subtracted to expenses?

What determines the overall financial strength of an entity?

What is done before starting a business to help it become successful?

What shows a list of assets and liabilities?

What is the performance report of revenues against cost and expenses?

What reports progress regarding changes in owner’s net worth?

Who is known as the Father of Modern Accounting?