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WorksheetsAccounting Quiz
Total questions: 14
Worksheet time: 7mins
…………… occurs when a person or business illegally avoids paying their tax liability, which is a criminal charge that’s subject to penalties and fines.
Tax avoidance
Tax evasion
Tax break
Tax exempt
…………… are the ordinary shares held by the owners, who therefore are the last to receive their money back in the event of liquidation.
Common stock
Preferred stock
Stockholder
Stock exchange
We ought to cut our expenses. Mark said that our …………… are too much a heavy part on the budget.
accounts receivable
accounts payable
collections
revenues
…………… is the reduction in value of a fixed asset during the years it is in use (charged against profits).
Income statement
Depreciation
Amortization
profit
…………… record and analyze the financial information of the firms in which they are employed.
Management accountants
Bookkeepers
Shareholders
Tax accountants
Accountants help make sure that a firm is run efficiently, that its …………… are maintained accurately, and that its taxes are paid properly.
activities
funds
records
reports
Taxation laws are enacted to encourage domestic and international corporations to either invest or ……………
purchase shares
build plants
pay debts
raise capital
Money which shareholders have put into the business is ……………
share capital
operating profit
operating cost
insurance
Most accounting positions require a bachelor’s degree in accounting or a related field or an equivalent combination of education and ……………
knowledge
qualification
experience
certificate
…………… is the most important financial manager in a company or organization, who is the head of the finance department.
CFO
CEO
chairman
Board of Director
…………… is long-term assets owned by the company, e.g. building, machinery.
Current asset
Fixed asset
Currency
Depreciation
…………… tells you what amount of tax to pay based on income.
Exile tax
Tax bracket
Payroll
Tax exempt
…………… is the distribution of some of a company’s earnings to a class of its shareholders, as determined by the company’s board of directors.
Overhead
Obligation
Share
Dividend
…………… is an agreement where the owner of something allows someone else to use it for a specific time for a sum of money.
Contract
Lease
Borrowing
Debt
