Answered step by step
Verified Expert Solution
Question
1 Approved Answer
ACCOUNTING MULTIPLE CHOICE QUESTIONS Module 1 1. Which financial statement displays the revenues and expenses of a company for a period of time? a) Income
ACCOUNTING MULTIPLE CHOICE QUESTIONS Module 1 1. Which financial statement displays the revenues and expenses of a company for a period of time? a) Income statement b) Balance sheet c) Cash flow statement d) Statement of stock holders' equity 2. What is the main purpose of financial accounting? a) Organise financial information b) Provide useful financial information to outsiders c) Keep track of company expenses d) Minimise company taxes 3. The long term assets that have no physical existence but are rights that have value is known as a) Current assets b) Fixed Assets c) Intangible Assets d) Investments 4. Which of these is not included as a separate item in the basic accounting equation? a) Asset b) Revenues c) Liabilities d) Stock holder's equity
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started