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5 Written questions

5 Matching questions

  1. Total Asset Turnover
  2. CPA
  3. Managerial Accounting
  4. Revenue
  5. Balance Sheet
  1. a sales/total assets
  2. b an accountant who has passed certain examinations and met all other statutory and licensing requirements of a United States state to be certified by that state
  3. c statement of a firm's financial position at a particular time. "Snap-Shot"
  4. d the internal use of accounting statements by managers in planning and directing the organization's activities
  5. e the entire amount of income before any deductions are made

5 Multiple choice questions

  1. 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
  2. 1. Examine source documents
    2. Record transactions
    3. Post transactions
    4. Prepare financial statements
  3. assets that are expected to be converted to cash or used within one year
  4. the total profit after all expenses, including taxes, have been deducted from revenue; also called net-earnings
  5. the amount of money a firm spent to but or produce the products it sold during the period to which the income statement applies

5 True/False questions

  1. Dividends Per Shareprofit/number of stock shares outstanding


  2. Profitability Ratiosratios that measure the speed with which a company can turn its assets into cash to meet short-term debt


  3. Profitthe amount of money left over after expenses are taken out


  4. Owner's Equitynet income/owner's equity


  5. Expensesthe costs incurred in the day-to-day operations of an organization