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WorksheetsBASICS OF ACCOUNTING
Total questions: 8
Worksheet time: 7mins
Who is considered as the father of accounting?
HENRY FAYOL
ADAM SMITH
LUCA PACIOLI
F.W. TAYLOR
The financial statement that reports the assets, liabilities, and stockholders' (owner's) equity at a specific date is the:
Balance Sheet
Income Statement
Statement of Cash Flows
Cash Statement
Which of the following are Assets?
Bank Account
Bank Loan
Vehicles
Bank overdraft
Furniture and fittings
Equity can also be called Capital
TRUE
FALSE
The account Which shows profit or loss of business during an year
(a)
Goodwill is
(a)
Accounting furnishes data on
A) Income and cost for the managers
B) Financial conditions of the institutions
C) Company’s tax liability for a particular year
D) All the above
The following are types of Income
Sales
Fees Received
Salaries
Staff Wages
Advertising
