BBI2O Accounting & Income Management Review (2024)

Who is responsible for the supply of money in the Canadian economy?

Coins are minted [produced] by:

If liabilities equal $100 and owner's equity equals $250, what does assets equal?

Assets are debts or amounts that are owed to others.

When recording assets (e.g., a delivery truck), it must be recorded at its original cost because of the _______.

Which of the following is an example of a financial statement?

Bank notes are produced by the:

If your assets equal $500 and your liabilities equal $300, what is your net worth?

Daily financial activities aimed at satisfying one's needs and wants within a limited income is a component of:

After all deductions and living expenses have been paid, I have $200 left. This is my:

To get the most out of your income, you need to _____ carefully.

Impulse buying means:

Given that A=assets, L=liabilites, and OE=owner's equity, what is the equation for determining total assets?

Owner’s equity is the net worth for a business.

If I receive money for tutoring, this money would be considered:

Buying my clothes at Value Village, Plato's Closet, or thrift shops is referred to as buying:

I earn $50 050 per annum [year]. This is $1 925 every 2 weeks. This amount, before any deductions, is my:

Buying Easter Egg themed chocolate at a reduced price after Easter is buying during a:

If assets equal 400 and liabilities equal 100, what does owner's equity equal?

When the value of an asset decreases over time, this is called __________.

Double-entry bookkeeping is based on the principle that:

If you are comparison shopping, you need to consider:

Items such as CPP, Employment Insurance, union dues, and income tax are:

The amount that is deposited into my bank account every two weeks by my employer, after deductions, is my:

Given that A=assets, L=liabilites, and NW=net worth, what is the equation for determining personal equity, or net worth?

Net worth is what you have left when you pay off all of your debts.

Planning for saving & spending based on income is referred to as:

If Billy's assets are $400 & $700, and his liabilities are $250, $125, and $600, then what is his personal equity?

Comparison shopping is a money management strategy.

Security features on bank notes include:

Land and equipment are examples of ____________

________________ is the production of fake money.

Resources controlled by the company are called ____________.

If a train leaves Montreal travelling 175 km/h, and a truck leaves Toronto travelling 110 km/h, then what is income?

Polymer bank notes (new bills) were introduced to:

Legal tender is considered to be:

Buying goods or services at a reduced price due to Canada Day celebrations is considered to be a(n):

The process of recording, analyzing, and interpreting the economic activities of a business is referred to as:

Which of the following is not one of the types of financial statements used by a business?

A debt, or liability, that a business owes to another business is referred to as: