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5 Written questions

5 Matching questions

  1. Managerial Accounting
  2. Double-Entry Bookkeeping
  3. Ledger
  4. Accounting
  5. Current Assets
  1. a a system of recording and classifying business transactions that maintains the balance of the accounting equation
  2. b assets that are expected to be converted to cash or used within one year
  3. c the recording, measurement, and interpretation of financial information
  4. d a book or computer file with separate sections for each account
  5. e the internal use of accounting statements by managers in planning and directing the organization's activities

5 Multiple choice questions

  1. the amount of money a firm spent to but or produce the products it sold during the period to which the income statement applies
  2. an internal financial plan that forecasts expenses and income over a set period of time
  3. operating income/interest expense
  4. ratios that measure how much debt and organization is using relative to other sources of capital, such as owners' equity
  5. =assets-liabilities

5 True/False questions

  1. Ratio Analysiscalculations that measure an organization's financial health


  2. Expensesthe entire amount of income before any deductions are made


  3. Inventory Turnoversales/accounts receivable


  4. Liabilitiesdebts that a firm owes others


  5. Dividends Per Shareprofit/number of stock shares outstanding


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