
Financial Accounting Quiz - Key terms 2
Quiz
•
Business
•
12th Grade
•
Hard

Victoria Reding
FREE Resource
58 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for income that has been earned but the money has not yet been received?
Authorised share capital
Accrued income
Capital income
Prepaid income
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the maximum amount of share issue that a company has agreed can be issued?
Bonus issue
Rights issue
Authorised share capital
Capital reserves
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for issuing additional shares to existing shareholders at no cost?
Rights issue
Bonus issue
Authorised share capital
Capital expenditure
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What concept states that transactions recorded in an organisation’s accounts can only relate to that organisation?
Materiality
Business entity
Consistency
Accruals
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What term refers expenditure on the purchase of non-current assets, including costs involved in buying and improving the non-current asset?
Capital expenditure
Capital income
Revenue expenditure
Revenue income
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the accounting ratio that assesses the proportion of finance that comes from borrowed sources?
Return on capital employed
Current ratio
Capital gearing
Liquid capital ratio
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is income from sources other than regular day-to-day operations called?
Accrued revenues
Capital income
Revenue income
Bonus issue
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