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Financial Accounting: Help and Review Final Exam

Free Practice Test Instructions:

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

Question 1 1. An agency problem in finance usually pertains to whom?

Question 2 2.

Rinate Company Ltd has the following details available:

Net Income is $123,200

Total asset valued at $258,600

Total Liabilities valued at $25300

Total Equity valued at $40000

Calculate the Return on Assets.

Question 3 3. Money earned in one accounting period but not received until another is called _____.

Question 4 4. What's the correct explanation of short-term debt for accounting purposes?

Question 5 5. Why is it important to manage indirect costs?

Question 6 6. What's depreciation?

Question 7 7. What does it mean if a capital good is a fixed asset?

Question 8 8. Which law was enacted as a direct result of the unethical financial practices of both Enron and Arthur Andersen?

Question 9 9. What are two different definitions of capital?

Question 10 10. What is the goal of the Balance Sheet?

Question 11 11. Which accounts have balances that are zeroed out at the end of each accounting period?

Question 12 12. When does a term bond become mature?

Question 13 13. What are accounts payable?

Question 14 14. Which of the following is the best explanation of capital goods?

Question 15 15. Which of the following is a type of inventory system that updates inventory with each sale?

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Financial Accounting: Help and Review Final Free Practice Test Instructions

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

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