SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
Test your basic knowledge |
Financial Statements
Start Test
Study First
Subject
:
business-skills
Instructions:
Answer 50 questions in 15 minutes.
If you are not ready to take this test, you can
study here
.
Match each statement with the correct term.
Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.
This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Entities owning shares of stock are the owners of the corporation
Income Statement
Inventories
Stockholders
Accounts recievable
2. Cost of bringing in revenues
Publicly traded
Stockholders' Equity
Accounts Payable
Expenses
3. Proportional increases in the number of shares outstanding
Stock splits
Retained earnings(ending)
Accounts recievable
PCAOB
4. Reports cash inflows + cash outflows during an accounting period
Statement of cash flows
Price earnings ratio
Depreciation Expense
Retained earnings(ending)
5. Shares are bought and sold on stock exchanges such as the New york stock exchange
Publicly traded
Treasury stock
Operating activities
Stock dividends
6. Patents - trademarks - and copyrights that have value but not any physical presence
Investing activities
Intangible assets
Stockholders
Gross Profit Margin
7. A company's ability to pay liabilities as they come due in the next year
Solvency
Depreciation Expense
Noncurrent liabilities
Liquidity
8. Merchandise held for sale to customers
Gains and Losses
FASB
Inventories
Operating activities
9. Assets- Liabilitie+ Equity OR Assets Liabilities- assets
Audits
Accounting Equation
Productivity
Preferred stock
10. Stock market trading price of the company's common stock
Basic earnings per share
Current assets
Financial Leverage
Market value per share
11. Recorded in stockholders equity 1. unrealized gains/losses on certain securities 2. Foreign currency translation adjustments 3. Certain gains/losses on pension plans
Statement of Stockholders equity
Cash and Cash equivalents
Accumulated other comprehensive income
Audits
12. Market price per share/EPS - to measure how expensive a company's stock is compared to EPS
Accounts recievable
Liquidity ratios
Accounts Payable
Price earnings ratio
13. Contracts that give their holders the right to buy or sell shares of stock at a certain market price
Discontinued Operations
Liquidity
Stock options
Horizontal common size statement
14. Recorded when a company closes down or sells part of its business
Discontinued Operations
Operating Expenses
Return on Equity
Audits
15. Amounts recieved from customers for products sold or services provided
Revenues
Asset Turnover
Television costs
Example of Current Asset
16. Monies to be recieved by the company from customers
Return on Equity
Current ratio
Asset
Recievables
17. Extra value that is recorded when buying another company
Nonrecurring items
Historical cost principle
Common-size balance sheet
Goodwill
18. Assets=
Warning
: Invalid argument supplied for foreach() in
/var/www/html/basicversity.com/show_quiz.php
on line
183
19. Net Income-Preferred Dividends/Common Stockholders equity - To analyze stock performance
Liquidity ratios
GAAP
Return on Common Equity
Contributed capital (ending)
20. Due after 12 months
Stock splits
CPAS
Gross Profit Margin
Noncurrent liabilities
21. Licensed by the state/conduct audits
Return on Asset
Noncurrent liabilities
CPAS
Nonrecurring items
22. Firm's ability to satisfy short term debt
Noncurrent liabilities
Intangible assets
Liquidity ratios
Cost of Goods Sold
23. Portion of assets the owners are free and clear of any liabilities
Warning
: Invalid argument supplied for foreach() in
/var/www/html/basicversity.com/show_quiz.php
on line
183
24. Costs incurred to produce revenues
Expenses
SEC
Discontinued Operations
Gains and Losses
25. Net income earned by the company since its incorporation and not yet distributed as dividends
Retained Earnings
Initial Public Offering (IPO)
Common size income statement
Accounting Equation
26. Operating Income/Interest Expense - compares the amount of income available to make interest payments to interest payment requirements
Times Interest Earned Ration
liabilities + stockholders' equity
Market value per share
Stockholders
27. Firm's ability to satisfy long term debt
Accounts recievable
Preferred stock
Stockholders' Equity
Solvency ratios
28. Cash - Accounts Recievable - Inventory
Example of Current Asset
Debt Ratio
Income Statement
Operating Income
29. States that companies should record assets and services at their acquisition cost - the amount paid for them - because this is the most reliable information
Accumulated Depreciation
Trend index
Historical cost principle
Expenses
30. Standardizes each item as based on a base year and reports data for subsequent years as a multiple of the standard
Horizontal common size statement
Current ratio
Cost of Goods Sold
Par value
31. Annual common stock dividends paid/average number of common shares outstanding - amount of dividends paid annually for each share of stock held by investors
Discontinued Operations
PCAOB
Current assets
Dividend rate
32. legislative authority to set the reporting rules for accounting info of publicly held corporations
SEC
Productivity
Net Income
Common size income statement
33. Subtracting operating expenses from gross profit (Income from Operations)
Operating Income
Market value per share
Expenses
Inventories
34. Retained earnings + Net Income - (Dividends)
Statement of Stockholders equity
Revenue Recognition Principle
Financing activities
Retained earnings(ending)
35. Expected to be converted into cash - sold - or consumed within the next 12 months
Price earnings ratio
Current assets
Stockholders' Equity
Accumulated Depreciation
36. Net Income-Preferred dividends/Average number of common shares outstanding - Amount of net income earned by each individual share of stock held by investors
Return on Asset
Market value per share
Earnings per share
Cost of Goods Sold
37. Net Income/ total assets reveals how efficiently assets are used to generate profit
Stock splits
Return on Asset
Accounting Equation
Statement of Stockholders equity
38. Highly unusual transactions that are considered unusual in nature and infrequent in occurence
Accounting Equation
Income Statement
Return on Sales
Extraordinary items
39. Sales revenue/ total assets measures how efficiently the company uses assets to generate revenue
Net Income
Asset Turnover
Current ratio
Cash- Basis Accounting
40. Rules that management must follow when preparing financial statements available to investors
GAAP
SEC
Horizontal common size statement
Par value
41. Total liabilities/ Total assets reveals the proportion of assets financed with debt and solvency
Balance Sheet
Publicly traded
Debt Ratio
Preferred stock
42. Amounts that the corporation must pay to suppliers in the future
Noncurrent liabilities
Accounts Payable
Creditor
Shares Outstanding
43. Entity loaning the money records a bond recievable
Creditor
Extraordinary items
Cost of Goods Sold(COGS)
Expenses
44. Items of value such as inventory and equipment are financed with liabilities(debt) or stockholders' equity(owners' shares
Liquidity
Asset
Stockholders
Intangible assets
45. Companies divide net income by the actual average number of common shares outstanding
Stock splits
Preferred stock
Basic earnings per share
Investing activities
46. Revenues are recorded in the period earned - not necessarily in the period that the company collects the money
Audits
Financial Leverage
Revenue Recognition Principle
Depreciation Expense
47. Relate to the need for investing in property - plant - and equipment or expanding by making investments in other companies
Television costs
Example of Current Asset
AICPAs
Investing activities
48. Compares all amounts within on year to total assets of that same year
Retained earnings(ending)
Common-size balance sheet
Dividend rate
Example of Current Asset
49. Gross profit/Sales revenue - compares gross profit to revenue expressing gross profit as a percentage of net revenue
Cash and Cash equivalents
Gross Profit Margin
Debtor
Accumulated other comprehensive income
50. Idea that accountants usually record transactions when they occur - not necessarily when cash is recieved or paid
Accrual Accounting
Discontinued Operations
Vertical common size balance sheet
Stockholders' Equity
Sorry!:) No result found.
Can you answer 50 questions in 15 minutes?
Let me suggest you:
Browse all subjects
Browse all tests
Most popular tests
Major Subjects
Tests & Exams
AP
CLEP
DSST
GRE
SAT
GMAT
Certifications
CISSP go to https://www.isc2.org/
PMP
ITIL
RHCE
MCTS
More...
IT Skills
Android Programming
Data Modeling
Objective C Programming
Basic Python Programming
Adobe Illustrator
More...
Business Skills
Advertising Techniques
Business Accounting Basics
Business Strategy
Human Resource Management
Marketing Basics
More...
Soft Skills
Body Language
People Skills
Public Speaking
Persuasion
Job Hunting And Resumes
More...
Vocabulary
GRE Vocab
SAT Vocab
TOEFL Essential Vocab
Basic English Words For All
Global Words You Should Know
Business English
More...
Languages
AP German Vocab
AP Latin Vocab
SAT Subject Test: French
Italian Survival
Norwegian Survival
More...
Engineering
Audio Engineering
Computer Science Engineering
Aerospace Engineering
Chemical Engineering
Structural Engineering
More...
Health Sciences
Basic Nursing Skills
Health Science Language Fundamentals
Veterinary Technology Medical Language
Cardiology
Clinical Surgery
More...
English
Grammar Fundamentals
Literary And Rhetorical Vocab
Elements Of Style Vocab
Introduction To English Major
Complete Advanced Sentences
Literature
Homonyms
More...
Math
Algebra Formulas
Basic Arithmetic: Measurements
Metric Conversions
Geometric Properties
Important Math Facts
Number Sense Vocab
Business Math
More...
Other Major Subjects
Science
Economics
History
Law
Performing-arts
Cooking
Logic & Reasoning
Trivia
Browse all subjects
Browse all tests
Most popular tests