Acct II Final Exam Prep
Authored by Eric Bostrand
Business
9th - 12th Grade
Used 22+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The withholding allowances for employees affect the amount of...
SS Tax Withheld
Fed Income Tax Withheld
FUTA (Fed Unemployment Tax)
SUTA (State Unemployment Tax)
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a EFT?
Exchange Fund Traded
Expense Fiscal Term
Electronic Funds Transfer
None of these
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which ratio below would be used for a term on a Notes Receivable ending Dec 31st for a transaction on Dec 6th?
6/31
25/360
31/360
6/360
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Use the straight line depreciation method to determine the annual depreciation for this truck, $55,000 new, $5,000 Salvage Value, 5 year useful life.
5,000
50,000
10,000
60000
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A retirement plan that allows you to withdrawal your earnings Tax Free after 59 1/2 years old.
401K
403B
Pension
Roth IRA
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Common Stock and Retained Earnings are reported on the....
Income Statement
Balance Sheet
Statement of Stockholder's Equity
Statement of Cash Flows
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is The Net Income Ratio calculated?
Net Income/Total Revenue
Gross Profit/Total Revenue
Net Income/Net Expenses
Net Income/Total Assets
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