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5 Written questions

5 Matching questions

  1. Double-Entry Bookkeeping
  2. Statement of Cash Flows
  3. Return on Assets
  4. Profit Margin
  5. Receivables Turnover
  1. a net income/sales
  2. b explains how the company's cash changed from the beginning of the accounting period to the end
  3. c sales/accounts receivable
  4. d net income/assets
  5. e a system of recording and classifying business transactions that maintains the balance of the accounting equation

5 Multiple choice questions

  1. summary of a firm's financial information, products, and growth plans for owners and potential investors
  2. ratios that measure the amount of operating income or net income an organization is able to generate relative to its assets, owner's equity, and sales
  3. 1. Examine source documents
    2. Record transactions
    3. Post transactions
    4. Prepare financial statements
  4. money an organization's customers owe the organization
  5. a firm's economic resources, or items of value that it owns, such as cash, inventory, land, equipments, buildings and other tangible and intangible things

5 True/False questions

  1. Cost of Goods Soldthe movement of money through an organization over a daily, weekly, monthly, or yearly basis


  2. Managerial Accountingthe internal use of accounting statements by managers in planning and directing the organization's activities


  3. Ratio Analysisnet income/sales


  4. Quick Ratioa straight measure of liquidity that eliminates inventory


  5. Balance Sheetan internal financial plan that forecasts expenses and income over a set period of time


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