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Worksheetsaccounting cycle
Total questions: 15
Worksheet time: 7mins
The owner invest to the business.
Assets (I)
Liabilities (D)
Equity (D)
It is a financial statement that reports the assets, liabilities, and equity of a company on a given date.
Statement of Income
Statement of Financial Position
Statement of Cash Flow
Statement of Changes in Equity
What are the two elements of income statement?
income/revenue
Expenses
Liabilities
Owner's Equity
What business own?
Liability
Asset
Property
Net Worth
Assets = Liabilities +...................
owners equity
profit
loss
assets
Examples of fixed assets in Regent School Secondary include:
Building
teachers
students
school fees
What do you call the result of operation at a given period of time if the expenses is larger than the total income?
net loss
net profit
retained earnings
equity
It is a financial statement that reports the profit or loss of a company on a given date.
Income statement
Balance sheet
Statement of Cash Flow
Statement of Changes in Equity
is money brought into
a company by its business
activities
Revenue /income
investment
Equity (D)
expenses “it costs money to make money.” what is the example of expenses in Regents School.
purchase books for library
purchase student's IGCSE books
purchase white board marker and refill ink of printer
Summary of a firm’s financial information, products, and growth plans for owners and potential investors.
Annual Report
Assets
Liabilities
Accounting Cycle
debts that a firm owes to others.
Annual Report
Assets
Liabilities
Accounting Cycle
The movement of money through an organization over a daily, weekly, monthly, or yearly basis.
Accounting
Certified Accountant
Cash Flow
Budget
