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WorksheetsAccounting Fundamentals CH 1 Quiz
Total questions: 17
Worksheet time: 21mins
What does GAAP stand for
Good Apples Are Perfect
Grandmas Are Always Punctual
General Accepted Accounting Principals
General Art Are Pleasant
(a) is making contacts with people to share information and advice. (Business Related)
A (a) handles a broad range of responsibilities, makes business decisions, and prepares and
interprets financial reports.
A (a) business operates to
earn money for their owners.
An (a) is the review of a company’s accounting systems and financial statements to confirm that they follow
generally accepted accounting principles.
CPA stands for
Certified Personal Accountant
Certified People Audit
Care Professional Animal
Careful Personal Accountant
(a) are the principles you live by and the beliefs that are important to
you.
The use of accounting skills to investigate fraud or embezzlement and to analyze financial information for use in legal proceedings.
Fact Checking
Skill Accounting
Forensic Accounting
Balance Sheeting
The Accounting Equation
(a) = (b) + (c)
The stuff the business (a) is equal to the stuff the business (b)
Stuff a business owns is called
An Asset
Property
Personal
Money
Loans, Taxes, Wages owed, etc are a (a)
The (a) is a snapshot of a business Asstes, Liability, and Equity at any given time.
The Balance Sheet must (a) balance
There how MAIN main Objectives of Accounting are there?
15
12
6
4
One objective of Accounting is to depict the (a) position of the company
There are how many key principles of key concepts in the GAAP guidelines
10
12
8
15
