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31問 • 2年前
  • ユーザ名非公開
    • 通報

    問題一覧

  • 1

    what is the accounting equation?

    assets = liabilities + equity

  • 2

    which of the following best described the term “expenses”?

    the outflow of assets resulting from the sales of goods and services

  • 3

    which of the following would be classified as external users of financial statements?

    the creditors and shareholders of the company

  • 4

    which of the following invests funds into a business and is considered an owner?

    shareholders

  • 5

    which of the following items is correct concerning the time element of financial statements?

    the balance sheet lists amounts at a specific point in time

  • 6

    which of the following statements is true concerning assets?

    assets are always recorded at their original cost

  • 7

    which of the following statements is true of liabilities?

    current liabilities are to be settled within 12 months

  • 8

    among the following alternatives which would you most likely find in the current liabilities section of the balance sheet?

    trade payables, accrued salaries and wages, unearned rent

  • 9

    which of the following can be classified as a capital expenditure?

    fixing extra headlights to the business truck

  • 10

    which of the following statements is correct about carriage outwards?

    carriage outwards is the cost of delivering goods to the business’ customers

  • 11

    you own a small business that sells kitchen and household products. you purchased from your supplier 10 000 units. 3000 units were broken and you return the glasses. which account will you credit when you return the glasses to your supplier?

    return outwards

  • 12

    cost of goods sold is:

    purchases minus ending inventory

  • 13

    on December 1st a customer places a order with you for food on new year 31st December. you deliver the food 31st and 2nd you sent her the invoice. on 9th she paid the invoice. under the accrual basis of accounting, when do you recognize revenue in your income statement?

    on 31st December

  • 14

    what are authorized shares?

    the number of shares a company is allowed to sell?

  • 15

    retained at inte is affected by which of the following? a) net profit b) net loss c) dividends paid d) share premium

    a, b, c

  • 16

    cash dividend can only be paid to shareholders if:

    all of these

  • 17

    which of the following is INCORRECT about shareholders?

    ordinary shareholders can have different types of shares (e.g redeemable, non-redeemable, cumulative, non-cumulative

  • 18

    transactions relating to receiving a loan or repaying a loan is usually related to which activity on the statement of cash flow?

    financing activities

  • 19

    if there is a decrease in inventory from one accounting period to the next accounting period, this means:

    there is a cash inflow under the operating activities in the statement of cash flow

  • 20

    if there is an increase in trade receivables from one accounting year to the next accounting year, this means:

    there is a cash inflow under the operating activities on the statement of cash flow

  • 21

    financial reports are used by…

    all of the above

  • 22

    which of the following best describes accounting?

    is an information system that provides reports to users regarding economic activities and condition of a business

  • 23

    the common areas of accounting that respectively provide information to internal and external users are

    management accounting and financial accounting

  • 24

    which of the following concepts relates to separating the reporting of business and personal economic transactions

    business entity concept

  • 25

    an owners withdrawals….

    decrease owners equity

  • 26

    the assets section of the balance sheet normally presents assets in:

    the order in which they will be converted into cash (liquidity)

  • 27

    Gomez service company paid its first installment on a note payable of $2000. how will this tbe and action affect the accounting equation?

    decrease in assets (cash) and decrease in liabilities (notes payable)

  • 28

    which of the following financial statements reports information as of a specific date?

    balance sheet

  • 29

    the revenue recognition principle..:

    determines when revenue is credited to a revenue account

  • 30

    deferred revenue is revenue that is

    not earned but the cash has been received

  • 31

    adjusting entries are:

    needed to bring accounts up to date and match revenue and expense

    • microeconomics

    microeconomics

    ユーザ名非公開 · 62問 · 2年前

    microeconomics

    microeconomics

    62問 • 2年前
    ユーザ名非公開

    問題一覧

  • 1

    what is the accounting equation?

    assets = liabilities + equity

  • 2

    which of the following best described the term “expenses”?

    the outflow of assets resulting from the sales of goods and services

  • 3

    which of the following would be classified as external users of financial statements?

    the creditors and shareholders of the company

  • 4

    which of the following invests funds into a business and is considered an owner?

    shareholders

  • 5

    which of the following items is correct concerning the time element of financial statements?

    the balance sheet lists amounts at a specific point in time

  • 6

    which of the following statements is true concerning assets?

    assets are always recorded at their original cost

  • 7

    which of the following statements is true of liabilities?

    current liabilities are to be settled within 12 months

  • 8

    among the following alternatives which would you most likely find in the current liabilities section of the balance sheet?

    trade payables, accrued salaries and wages, unearned rent

  • 9

    which of the following can be classified as a capital expenditure?

    fixing extra headlights to the business truck

  • 10

    which of the following statements is correct about carriage outwards?

    carriage outwards is the cost of delivering goods to the business’ customers

  • 11

    you own a small business that sells kitchen and household products. you purchased from your supplier 10 000 units. 3000 units were broken and you return the glasses. which account will you credit when you return the glasses to your supplier?

    return outwards

  • 12

    cost of goods sold is:

    purchases minus ending inventory

  • 13

    on December 1st a customer places a order with you for food on new year 31st December. you deliver the food 31st and 2nd you sent her the invoice. on 9th she paid the invoice. under the accrual basis of accounting, when do you recognize revenue in your income statement?

    on 31st December

  • 14

    what are authorized shares?

    the number of shares a company is allowed to sell?

  • 15

    retained at inte is affected by which of the following? a) net profit b) net loss c) dividends paid d) share premium

    a, b, c

  • 16

    cash dividend can only be paid to shareholders if:

    all of these

  • 17

    which of the following is INCORRECT about shareholders?

    ordinary shareholders can have different types of shares (e.g redeemable, non-redeemable, cumulative, non-cumulative

  • 18

    transactions relating to receiving a loan or repaying a loan is usually related to which activity on the statement of cash flow?

    financing activities

  • 19

    if there is a decrease in inventory from one accounting period to the next accounting period, this means:

    there is a cash inflow under the operating activities in the statement of cash flow

  • 20

    if there is an increase in trade receivables from one accounting year to the next accounting year, this means:

    there is a cash inflow under the operating activities on the statement of cash flow

  • 21

    financial reports are used by…

    all of the above

  • 22

    which of the following best describes accounting?

    is an information system that provides reports to users regarding economic activities and condition of a business

  • 23

    the common areas of accounting that respectively provide information to internal and external users are

    management accounting and financial accounting

  • 24

    which of the following concepts relates to separating the reporting of business and personal economic transactions

    business entity concept

  • 25

    an owners withdrawals….

    decrease owners equity

  • 26

    the assets section of the balance sheet normally presents assets in:

    the order in which they will be converted into cash (liquidity)

  • 27

    Gomez service company paid its first installment on a note payable of $2000. how will this tbe and action affect the accounting equation?

    decrease in assets (cash) and decrease in liabilities (notes payable)

  • 28

    which of the following financial statements reports information as of a specific date?

    balance sheet

  • 29

    the revenue recognition principle..:

    determines when revenue is credited to a revenue account

  • 30

    deferred revenue is revenue that is

    not earned but the cash has been received

  • 31

    adjusting entries are:

    needed to bring accounts up to date and match revenue and expense