Maker LogoSuper Survey Maker
Survey MakerSurvey TemplatesContactPrivacy & Security

Fundamentals of Accounting

What is the basic accounting equation?
Assets = Liabilities + Equity
Assets = Revenue - Expenses
Assets = Equity - Liabilities
Assets = Liabilities - Equity
Which of the following is an example of a current asset?
Cash
Accounts Payable
Inventory
Buildings
What is the purpose of the income statement?
Which of the following is a contra account?
Accumulated Depreciation
Accounts Receivable
Prepaid Expenses
Common Stock
What is the formula for calculating return on investment (ROI)?
Net Income / Total Assets
Net Income / Shareholders' Equity
Net Income / Sales
Net Income / Average Total Assets
Which of the following is an example of a long-term liability?
Bonds Payable
Accounts Payable
Notes Payable
Salaries Payable
What is the purpose of the statement of cash flows?
Which accounting principle requires expenses to be recognized when incurred, regardless of when payment is made?
Matching Principle
Revenue Recognition Principle
Historical Cost Principle
Expense Recognition Principle
What is the formula for calculating the current ratio?
Current Assets / Current Liabilities
Total Assets / Total Liabilities
Net Income / Total Equity
Gross Profit / Sales
Which financial statement reports the financial position of a company at a specific point in time?
Balance Sheet
Income Statement
Statement of Cash Flows
Statement of Retained Earnings
{"name":"Fundamentals of Accounting", "url":"https://www.quiz-maker.com/QPREVIEW","txt":"What is the basic accounting equation?, Which of the following is an example of a current asset?, What is the purpose of the income statement?","img":"https://www.quiz-maker.com/3012/images/ogquiz.png"}

More Surveys

Environmental problems
520
YTC Courts Committee Survey - Sept 2021 Tennis is a sport that has been played for centuries with a storied history and international appeal.  Pickleball is the fastest growing sport in the US, especially for people 65 and older.  Both sports appeal to players for their physical and social benefits.  Both sports improve mood and mental health, burns calories, improves balance and agility, as well as create new friendships.  The Courts Committee at YTC values owner/member input so that our community reflects what we desire the community to be.  Please take a few minutes to complete the survey below.
1260
Bos survey
420
Tier Sorting the NFL QBs of 2022
56280
School Districts
100
Activity Poll
100
Sebby103
11614
Irish Drinking Laws
520
Make your own Survey
- it's free to start.
Super Survey Logo
Powered by
Super Survey Maker | Super Templates Make your own Survey