WorksheetsCOB2 - Unit 3
Total questions: 10
Worksheet time: 3mins
1. This branch of accounting focuses on preparing and using financial information about a company in order to support management in making key business decisions.
Managerial accounting
Cost accounting
Financial auditing
Managerial reporting
2. This branch of accounting is responsible for keeping an exact record of daily or monthly transactions.
Financial analysis
Bookkeeping
Auditing
Management recording
3. ........................................... focuses on examining a person's or organization's financial records to find out financial crimes.
Compliance auditing
Financial forecasting
Forensic accounting
Internal auditing
4. .................................. focuses on reporting, analyzing a company's costs and identifying where a company is spending its money, how much it earns, and where money is being lost.
Marginal costing
Cost accounting
Variance analysis
Throughput accounting
5. An accounting process that exploits loopholes in accounting standards to portray a better financial picture of a company than reality.
Accounting arbitrage
Financial engineering
Window dressing
Creative accounting
6. ............................ refer to a company's obligation to pay money to other people or businesses in the future.
Liabilities
Equity
Deferred revenue
Provisions
7. The amount of net income left over for the business after it has paid out dividends to its shareholders.
Appropriated earnings
Capital reserves
Unearned income
Retained earnings
8. A company's short-term debt/liability owed to its creditors or suppliers, which have not yet been paid.
Accrued liabilities
Intangibles
Accounts payable
Trade receivables
9. A type of intangible asset that is associated with the purchase of one company, including reputation, loyal customers, solid customer service, good employee relations, etc.
Capital surplus
Goodwill
Brand equity
Synergy value
10. A company's current assets including raw materials, work in progress, and finished products.
Merchandise
Fixed assets
Operating supplies
Inventories
