stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
quiz accounting Flashcards | StudBud
Explore
/
quiz accounting
quiz accounting
10 terms
·
StudBud Administration
·
12 plays
Imported from external platform
Flashcards
10 cards
F
Practice quiz
P
Host live
L
Questions
10
Answers
1
working capital is the money a business has for daily operations.
True
False
2
Stockbrokers obtain copies of financial reports from public companies
True
False
3
A income statement is not in any of the six columns
True
False
4
Why do accountants use a variety of presentation and mathematical tools
They use tools to avoid doing any calculations.
Tools are used to hide financial information.
Accountants use tools to analyze and present financial data.
accountants use tools to decorate reports.
5
what is the purpose of a six-column work sheet
To organize all the drawings an owner may take out of the business
To organize and plan the information for the financial statement
calculate net worth
To calculate your GSP and PST taxes for the month
6
who is the best accounting teacher
Mr. Kuypers
none of the above
Ms. Strome
Ms. K
7
why do mangers require financial statements
To hide company performance
financial statements to make informed business decisions.
To entertain employees
To avoid making decisions
8
Comparing income statements, trend analysis, percentages, graphs, are the tools accountants use
False
True
9
Are accounts receivable controlled accounts or are accounts payable controlled accounts?
Accounts payable
Both aren't
Both are
Accounts Receivable
10
what is the full disclosure principle
It only applies to private companies
Requires companies to provide all important financial information
Allows companies to hide financial details
It requires companies to disclose irrelevant information
