Long Test

Quiz
•
Business
•
1st - 12th Grade
•
Medium
laila jawod
Used 3+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Something the business owns.
Assets
Liabilities
Revenues
Expenses
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Amount owed by a business.
Assets
Liabilities
Owners Equity
Expenses
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The financial statement that reports the assets, liabilities, and stockholders' (owner's) equity at a specific date is the:
Statement of Financial Position
Income Statement
Statement of Changes in Equity
Cash Flow Statement
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A statement of financial position shows
how much gross profit it has
how much net profit it has
How much a business owns and owes
All of the Above
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Capital is ……
what the business owns and what is owed
what the business owes to other people
How the business is funded
None of the Above
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A financial statement that shows the inflows and outflows of cash during a particular period of time is known as:
Statement of Financial Position
Statement of Comprehensive Income
Statement of Changes in Equity
Cash Flow Statement
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is not an operating cash flow?
collection of cash from receivables
payment of income tax
payment of cash for operating expenses
Purchase of equipment for cash
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