CA Foundation Business Economics Questions 2023 - Part 32
Fri, 03 Mar 2023
Inspirational journeys
Follow the stories of academics and their research expeditions
Accounting Skills Assessment Practice Questions 2023 - Part 23
1. The primary source of revenue for a wholesaler is?
A) Investment income
B) Service fees
C) The sale of merchandise
D) The sale of fixed assets the company owns
2. Retained earnings will change over time because of several factors. Which of the following factors would explain a decrease in retained earnings?
A) Net loss
B) Net income
C) Dividends
D) Investments by stock holders
3. A Profit is earned if?
A) Assets exceed Expenditure
B) Income exceeds Expenditure
C) Cash Inflow exceeds Cash Outflow
D) Income exceeds Liabilities
4. Which of the following is true regarding the income statement?
A) The income statement is sometimes called the statement of operations
B) The income statement reports revenues, expenses, and liabilities
C) The income statement reports only revenue at the point of sale
D) It shows financial position of a business at a particular period of time
5. A company has, by the end of its financial period, paid out more Tax than it has to pay. How would this be shown in the balance sheet?
A) As an accrual Revenue
B) As a Prepaid within current assets
C) As a 'creditor due within one year'
D) As a creditor due after more than one year'
A) Investment income
B) Service fees
C) The sale of merchandise
D) The sale of fixed assets the company owns
2. Retained earnings will change over time because of several factors. Which of the following factors would explain a decrease in retained earnings?
A) Net loss
B) Net income
C) Dividends
D) Investments by stock holders
3. A Profit is earned if?
A) Assets exceed Expenditure
B) Income exceeds Expenditure
C) Cash Inflow exceeds Cash Outflow
D) Income exceeds Liabilities
4. Which of the following is true regarding the income statement?
A) The income statement is sometimes called the statement of operations
B) The income statement reports revenues, expenses, and liabilities
C) The income statement reports only revenue at the point of sale
D) It shows financial position of a business at a particular period of time
5. A company has, by the end of its financial period, paid out more Tax than it has to pay. How would this be shown in the balance sheet?
A) As an accrual Revenue
B) As a Prepaid within current assets
C) As a 'creditor due within one year'
D) As a creditor due after more than one year'
1. Right Answer: C
Explanation:
2. Right Answer: A
Explanation:
3. Right Answer: B
Explanation:
4. Right Answer: A
Explanation:
5. Right Answer: B
Explanation:
Explanation:
2. Right Answer: A
Explanation:
3. Right Answer: B
Explanation:
4. Right Answer: A
Explanation:
5. Right Answer: B
Explanation:
Tags:
business management finance financial exam work concept manager professional office report education test research insurance job analysis student document certified reading accountant technology people employee certification economics businesswoman experience ethics membership association decision analysis internet ethical paperwork secretary service corporate finance computer information workplace paper plan accounting laptop woman background person0 Comments
Categories
Recent posts
CA Foundation Business Economics Questions 2023 - Part 31
Fri, 03 Mar 2023
CA Foundation Business Economics Questions 2023 - Part 30
Fri, 03 Mar 2023
Leave a comment