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5 Written questions

5 Matching questions

  1. Journal
  2. Assets
  3. Certified Management Accountants
  4. Inventory Turnover
  5. Budget
  1. a an internal financial plan that forecasts expenses and income over a set period of time
  2. b private accountants who, after rigorous examination, are certified by the National Association of Accountants and who have some managerial responsibility
  3. c 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
  4. d sales/total inventory
  5. e a time-ordered list of account transactions

5 Multiple choice questions

  1. a firm's financial obligations to short-term creditors, which must be repaid within one year
  2. is an account representing all unpaid financial obligations incurred by the organization
  3. the movement of money through an organization over a daily, weekly, monthly, or yearly basis
  4. net income/sales
  5. a summary of the revenue and expenses for a specific period of time, such as a month or a year.

5 True/False questions

  1. Double-Entry Bookkeepingcurrent assets/current liabilities

          

  2. Annual Reportan internal financial plan that forecasts expenses and income over a set period of time

          

  3. Depreciationthe loss of the value of capital equipment that results from normal wear and tear

          

  4. Liabilitiesdebts that a firm owes others

          

  5. Balance Sheetstatement of a firm's financial position at a particular time. "Snap-Shot"

          

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