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Financial Accounting: Tutoring Solution 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. What is the money that an owner has personally invested in their company called?

Question 2 2. Which of these bond types allow the issuer the opportunity to retire a bond at a stated dollar amount before reaching maturity?

Question 3 3. The earnings management technique that occurs when expenses are based on estimates is _____.

Question 4 4. The type of account that 'shows what a company owes' is a(n) ___________ account.

Question 5 5. What is the term for balancing a company's cash account to its bank account?

Question 6 6. What was the accounting firm that made unethical choices in the Enron scandal?

Question 7 7. According to the accounting equation, accounts are balanced when assets:

Question 8 8. Which of the following statements about the time period principle is FALSE?

Question 9 9. Using the image of the balance sheet, what is this company's debt-to-assets ratio?

Question 10 10. A majority investor in ABC Motors wants to see how much money the company is reinvesting in itself. In which financial statement will the investor find this information?

Question 11 11. Which of the following types of merchandising companies buys items in bulk and resells them to retailers or other wholesalers?

Question 12 12. Why is accounting important to business?

Question 13 13. What is an example of a source document?

Question 14 14. The guidelines for financial reporting that all accounting professionals must follow are called _____.

Question 15 15. What is the accounting equation for calculating the cost of purchasing inventory?

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Financial Accounting: Tutoring Solution 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!

Financial Accounting: Tutoring Solution  /  Business Courses
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