Final Quiz
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Question 1 of 11
1. Question
Select the correct answer: The formula for calculating the current ratio is…
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Question 2 of 11
2. Question
Select the correct answer: The difference between financial statements and financial reports is that…
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Question 3 of 11
3. Question
Select the correct answer: __________ is the exercise of recording all the transactions that take place in a business
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Question 4 of 11
4. Question
Select the correct answer: In any journal or ledger, debits always appear on the side
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Question 5 of 11
5. Question
Select the correct answer: Credits always appear on the side.
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Question 6 of 11
6. Question
True or False: The cost of creating a product is referred to as the cost of goods sold.
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Question 7 of 11
7. Question
True or False: The purpose of an income statement is to show what a company owns and owes as of a specific date.
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Question 8 of 11
8. Question
Select the correct answer: If a company has 72% current assets, 14% current liabilities, and 5% long-term debt, they can be classified as risk.
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Question 9 of 11
9. Question
True or False: Depreciation refers to the interest collected on an account
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Question 10 of 11
10. Question
Select the correct answer: A checkbook is an example of…
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Question 11 of 11
11. Question
Select the correct answer: Double entry accounting
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