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5 Written questions

5 Matching questions

  1. Accounting
  2. Current Liabilities
  3. Net Income
  4. Total Asset Turnover
  5. Double-Entry Bookkeeping
  1. a sales/total assets
  2. b a firm's financial obligations to short-term creditors, which must be repaid within one year
  3. c the recording, measurement, and interpretation of financial information
  4. d the total profit after all expenses, including taxes, have been deducted from revenue; also called net-earnings
  5. e a system of recording and classifying business transactions that maintains the balance of the accounting equation

5 Multiple choice questions

  1. net income/assets
  2. the actual cash received for each share owned
  3. current assets/current liabilities
  4. explains how the company's cash changed from the beginning of the accounting period to the end
  5. ratios that measure how well a firm uses its assets to generate $1 of sales

5 True/False questions

  1. Accounts Receivablemoney an organization's customers owe the organization


  2. Current Assetsassets that are expected to be converted to cash or used within one year


  3. Debt Utilization Ratiosratios that measure how much debt and organization is using relative to other sources of capital, such as owners' equity


  4. Assetsan internal financial plan that forecasts expenses and income over a set period of time


  5. Private Accountantsthe recording, measurement, and interpretation of financial information


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