Accounting 101

Accounting 101

12th Grade - University

10 Qs

quiz-placeholder

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Accounting 101

Accounting 101

Assessment

Quiz

Business

12th Grade - University

Hard

Created by

Harry Aung

Used 44+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic resources controlled by a company are reported in the financial statements as

assets

liabilities

equity

expenses

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the ending date of a financial year in Australia?

April 30

June 30

July 1

December 31

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Cost accounting is a form of

financial accounting

management accounting

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

EBIT may also refer to as

revenue

net income after tax

gross profit

operating income

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the ratio would you use to evaluate the liquidity of a company?

Debt ratio

Asset turnover ratio

Current ratio

Gearing ratio

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a financial report in a company's annual report?

Balance sheet

Budgeted income statement

Cashflow statement

Statement of profit and loss

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The tax rate for large companies in Australia is generally

10%

30%

50%

There is no corporate tax in Australia.

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