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5 Written Questions

5 Matching Questions

  1. Return on Assets
  2. Double-Entry Bookkeeping
  3. Budget
  4. Quick Ratio
  5. Liabilities
  1. a debts that a firm owes others
  2. b a system of recording and classifying business transactions that maintains the balance of the accounting equation
  3. c net income/assets
  4. d a straight measure of liquidity that eliminates inventory
  5. e an internal financial plan that forecasts expenses and income over a set period of time

5 Multiple Choice Questions

  1. a summary of the revenue and expenses for a specific period of time, such as a month or a year.
  2. explains how the company's cash changed from the beginning of the accounting period to the end
  3. accountants employed by large corporations, government agencies, and other organizations to prepare and analyze their financial statements
  4. the internal use of accounting statements by managers in planning and directing the organization's activities
  5. statement of a firm's financial position at a particular time. "Snap-Shot"

5 True/False Questions

  1. Ratio Analysisa time-ordered list of account transactions

          

  2. Annual Reportthe total profit after all expenses, including taxes, have been deducted from revenue; also called net-earnings

          

  3. Per Share Datadata used by investors to compare the performance of one company with another on an equal, per share basis

          

  4. Accountingthe recording, measurement, and interpretation of financial information

          

  5. Times Interest Earned Ratiocurrent assets/current liabilities

          

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