Accounting
- Created by: axzolanski
- Created on: 09-01-22 22:43
Other questions in this quiz
2. Which of the following statements is true?
- Companies typically manipulate general reserves and provisions by increasing them in leaner times and reducing them in more profitable years.
- Increased accounts receivable that are not accompanied by an increased provision for bad debts could be a sign of earnings management.
- A company that shows rising revenues without an increase in cash flow is engaging in creative accounting.
3. Which of the following is a noncurrent asset for a shoe manufacturer?
- Long-term debt
- Inventory
- Plant & machinery
- Accounts receivable
- Cash
4. Which of the following is the main accounting standard setter in the US?
- FASB
- SEC
- DTCC
- GAAP
- IASB
5. Which of the following describes the accounting equation?
- Liabilities = Short-term Assets + Long-Term Debt
- Total Debt = Equity + Assets
- Assets = Liabilities + Equity
- Equity = Noncurrent Assets + Liabilities
- Equity = Assets + Liabilities
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