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Accounting Society Opening Social

Total questions: 12

Worksheet time: 3mins

Name
Class
Date
1.

Who are this year's Accounting Society co-presidents?

a)

Josue and Takuto

b)

Takuto and Ammon

c)

Haley and Kylee

d)

Kylee and Ammon

2.

Fill in the blank: Debits =

a)

Credits

b)

Assets

c)

Debits

d)

Equity

3.

What are the three Financial Statements?

a)

Balance Sheet, Income Statement, and Statement of Assets

b)

Statement of Assets, Statement of Cash Flows, and Income Statement

c)

Statement of Cash Flows, Statement of Assets, and Balance Sheet

d)

Income Statement, Balance Sheet, and Statement of Cash Flows

4.

What is BYU's Accounting Program Ranked in the US?

a)

100th

b)

2nd

c)

3rd

d)

59th

5.

What is the accounting equation?

a)

Assets=Liabilities-Owner's Equity

b)

Assets=Liabilities+Owner's Equity

6.

What does GAAP stand for?

a)

I have no idea

b)

Generally Accepted Asset Principles

c)

Great Alaskan Accounting People

d)

Generally Accepted Accounting Principles

7.

Who are the Big 4?

a)

Deloitte, KPMG, Touche Ross, and Coopers & Lybrand

b)

Deloitte, EY, KPMG, and PwC

c)

PwC, EY, Arthur Anderson, and Touche Ross

d)

EY, Deloitte, Price Water, AY

8.

What US agency oversees tax collection?

a)

SEC

b)

CIA

c)

NSA

d)

IRS

9.

Which is an Asset account?

a)

Revenue

b)

Debt

c)

Equipment

d)

Accounts Payable

10.

Which is a Liability account?

a)

Revenue

b)

Inventory

c)

Equipment

d)

Accounts Payable

11.

Which is an Owner's Equity account?

a)

Accounts Payable

b)

Inventory

c)

Equipment

d)

Revenue

12.

What is the best major in the Marriott School?

a)

Accounting

b)

Information Systems

c)

Finance

d)

Marketing