Accounting U4 T3

Accounting U4 T3

12th Grade

22 Qs

quiz-placeholder

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Accounting U4 T3

Accounting U4 T3

Assessment

Quiz

Other

12th Grade

Hard

Created by

Charissa Steffens

Used 1+ times

FREE Resource

22 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Indicate whether each of the following statements is true or false. Any legal action against a company is taken against the owners of the company.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

‘Limited’ generally indicates that the liability of the shareholders to the company is limited to the agreed purchase price of their shares.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a dividend is not paid on ordinary shares during this financial period, then the shareholders must be paid double the dividend in the next financial period.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Many companies have large amounts of cash because they have large amounts of reserves.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Retained earnings represent part of the shareholders’ equity.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Retained earnings in a company represent past profits and so are represented in cash.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Interest on debentures appears in the Statement of Retained Earnings.

True

False

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