WorksheetsBUSSHART - PRINCIPLES OF BUSINESS 6.00
Total questions: 21
Worksheet time: 11mins
Accountants use ______________ to help them .
Hammers
Calculators
Toolbelts
An accountant helps prepare tax forms.
True
False
Which account is provided on an income statement?
Income or Revenue
Names of your favorite music artists.
Address
What is Owner's Capital?
An amount allocated to the owners.
A car.
The name of a tax form.
A credit card is an example of a liability.
True
False
Assets a company already owns and can use to finance a new venture are called:
Equity
Ratio
Portions
When businesses invest funds to expand, they are involved in the process of:
Setting goals
Finance
Foreclosure
__________is the process of obtaining funds and using them to achieve the goals of the business.
Finance
Revenue
Retirement
When return on capital is _____________________ , the company is growing in value.
Positive
Gray
Negative
Red
Anything of value that a business owns is an:
Expense
Asset
Oversight
Businesses use the information collected through the accounting process to prepare accurate ________
Balance
Bed
Work sheets.
What is one of the main reasons why businesses need to keep accurate accounting records?
To control expenses
To follow rules
To retire early
An _______________ is an individual who has had specialized training in accounting.
Accountant
Entrepreneur
Investor
Accounting is the process of keeping financial records.
Yes
No
The role of finance in business often involves obtaining funds.
Yes
No
The role of finance in business often involves:
Monitoring expenses.
Paying employees.
Buying supplies. .
Obtaining funds
What is one of the main reasons why businesses need to keep accurate accounting records?
To follow procedures
To control expenses
To eliminate risks
To regulate taxes
Assets a company already owns and can use to finance a new venture are called:
Accounts payable.
Dividends.
Return on capital.
Equity.
Businesses would not be able to determine if they are meeting their financial goals without accurate:
Production plans.
Marketing plans.
Accounting systems.
Distribution systems.
When businesses invest funds to expand, they are involved in the process of:
Selling.
Depreciation.
Finance.
Capitalism.
Businesses use the information collected through the accounting process to prepare accurate:
Balance sheets.
Purchase orders.
Inventory forms.
Promissory notes.
