Are you ready for a quick account knowledge test? Take this accounting quiz to check your understanding and learn new facts. For a business to prosper, they need funding, which can come through investments, cash, or selling its shares. What do you understand about these different types of funding and their treatment in the books of accounts? This accounting knowledge quiz is designed to help you answer that. Give it a try, and check out your scores. All the best!
Costs of selling products or services
Sales of products or services
Amounts owed
Distributions to stockholders
Owners' claims to resources
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Income Statement
Balance Sheet
Statement Of Cash Flows
None of the above
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Costs of selling products or services
Expense to run business
Sales of products or services
Distributions to stockholders
Assets purchased to run business
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Assets = liabilities + stockholders' equity
Assets + liabilities = stockholders' equity
Liabilities - stockholders' equity = assets
All of the above
Income Statement
Balance Sheet
The Statement of Stockholders' Equity
The Statement of Cash Flows
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Sales of products or services
Owners' claims to resources
Resources owned
Costs of selling products or services
Amounts owed
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Current Market Value
Expected Selling Price
Cost
Profit Rate
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True
False
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Balance Statement
Financial accounting net income
Revenues
Expenses
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