Financial Accounting means to analyze, summarize, and record financial transactions as well as to show an accurate picture of the financial affairs of the company. This quiz has been developed to test your knowledge of Financial Accounting Concepts. Take your time, it's a bit difficult. So, let's try out the quiz. All the best!
True
False
True
False
Preferred stock
Common stock
Par value stock
Stated value stock
No-par value stock
Ownership rights to the assets of the corporation
Voting rights
Preference to dividends
The rights to sell their stock on the open market
Preference to assets at liquidation
$108,625
$(12,625)
$11,375
$43,375
$(11,375)
Financial accounting
Managerial accounting
Tax accounting
Forensic accounting
Tax accounting
Managerial or Management Accounting
Auditing
International Accounting
Investor
Creditor
Manager
Customer
Owner’s Equity = Liabilities + Assets
Liabilities = Assets + Owner’s Equity
Assets = Liabilities + Owner’s Equity
Assets = Owner’s Equity
Leonardo da Vinci
Fra Luca Pacioli
Al Khawarizmy
Al Mazendarany