Intro to Busi Test 2
Authored by Raquel Solano
Financial Education
University
Used 4+ times
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45 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Things you own are
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Things you owe are
Goods
Money
Liabilities
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The accounting equation is
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a statement of a firm’s financial position - what it owns and the claims against its assets - at a particular point in time.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
________ a record of the company’s expenses over a period of time.
Cash and other liquid assets that can/ will be converted to cash or used within one year are ________
________ a record of the company’s expenses over a period of time.
Cash and other liquid assets that can/ will be converted to cash or used within one year are ________
Income Statement, Current Assets
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Assets expected to last for more than one year are called ________ or ________.
current assets, liquid assets
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Claims of creditors to be repaid within one year are
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