Accounting Reviewer
Authored by KARL VINCE PEREZ
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10th Grade
Used 3+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary purpose of accounting?
To conduct market research
To manage human resources
To provide entertainment
To provide financial information about a business
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a party involved in accounting?
Manufacturers
Employees
Government
Investors
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does double-entry bookkeeping involve?
Recording transactions in at least two accounts
Recording transactions without any classification
Recording transactions in one account
Only recording cash transactions
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a financial statement?
A document for tax purposes
A snapshot of a corporation’s financial health
A report on employee performance
A summary of marketing strategies
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT one of the four main types of financial statements?
Cash Flow Statement
Income Statement
Sales Report
Balance Sheet
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the accounting equation state?
Assets = Equity - Liabilities
Assets + Liabilities = Equity
Assets = Liabilities + Equity
Assets = Liabilities + Revenue
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of a balance sheet?
To analyze market trends
To manage inventory
To track employee performance
To assess financial health
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