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Accounting and Finance Quiz

Total questions: 13

Worksheet time: 7mins

Name
Class
Date
1.

The assets and …………… on the balance sheet can help you know how the company is doing.

a)

liabilities

b)

subsidiaries

c)

investment

d)

shares

2.

Bookkeepers are administrative staff responsible for processing the records of a business’s ……………

a)

financial activities

b)

financing investments

c)

minority interest

d)

cash flow

3.

…………… is the title of the manager with the greatest authority in the normal everyday management of a company.

a)

CEO

b)

auditor

c)

interviewer

d)

customer

4.

Nowadays, accountants are broadening the services they offer with budget analysis, …………… planning, and IT consulting.

a)

finance

b)

income

c)

investment

d)

benefit

5.

…………… is a firm that sells its shares to anyone who wants to buy them.

a)

Publicly-traded company

b)

Group

c)

Co. Ltd.

d)

Organization

6.

…………… is a statement of what a company owns (its assets) and what it owes (its liabilities) at a particular time.

a)

balance sheet

b)

finance

c)

dividend

d)

profit accounts

7.

The amount of cash and goods that the owner of a business invests in the business is known as ……………

a)

revenue

b)

minority interest

c)

owner’s equity

d)

fund

8.

…………… is the same as a tax declaration – it’s a list of income and tax deductible expenditure for the tax authority.

a)

Tax return

b)

VAT

c)

Property tax

d)

Tax break

9.

…………… record, categorize, and total all of an organization’s financial transactions.

a)

Directors

b)

Administrative staff

c)

Management accountants

d)

Bookkeepers

10.

A company’s cash flow statement includes three types of cash flow: cash flow from operating activities, cash flow from investing activities and cash flow from ……………

a)

business activities

b)

transactions

c)

marketing

d)

financing activities

11.

For effective taxation planning, companies rely on …………… who must have an excellent understanding of both their clients’ business and the various taxation laws.

a)

advisors

b)

tax specialists

c)

financial advisors

d)

auditors

12.

…………… are amounts owed to others relating to loans, extensions of credit, and other obligations arising in the course of business.

a)

Liabilities

b)

Expenses

c)

Overheads

d)

Receivables

13.

When preparing accounts, the …………… must assume that the business will still be viable in the years to come. In other words, the business will be able to continue operating long enough to meet its obligations and commitments.

a)

prudence principle

b)

consistency principle

c)

going concern principle

d)

matching principle