vu fin621 Final Term - Quiz No.4
vu fin621 Financial Statement Analysis Quiz
This quiz belongs to book/course code vu fin621 Financial Statement Analysis of vu organization. We have 6 quizzes available related to the book/course Financial Statement Analysis. This quiz has a total of 10 multiple choice questions (MCQs) to prepare and belongs to topic Final Term. NVAEducation wants its users to help them learn in an easy way. For that purpose, you are free to prepare online MCQs and quizzes.
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Question 1: Which of the following type of reports is most frequently used by external users, such as investors?
Financial Statements
Tax Forms
Management Reports
Audit reports
Question 2: Which of the following is the most common adjusting entry?
Un-earned revenue
Pre-paid expense
Depreciation expense
Accrued revenue
Question 3: Which of the following is NOT an example of cash equivalents?
Certificates of Deposit
Money market accounts
Money market mutual funds
Euro Bond
Question 4: Which of the following is the first step of the accounting cycle?
Making adjusting entries
Preparation of the financial statements
Posting in the ledger accounts
Analyze and journalize transactions as they occur
Question 5: When preparing a statement of cash flows under the indirect method, supplemental disclosure should be made for which of the following?
Net cash consumed by operating activities
Cash dividend distributions
Cash paid for interest and taxes
Cash paid for wages
Question 6: Which of the following would be affected by the difference between revenues and expenses?
Assets
Owners equity
Liabilities
Capital
Question 7: Which of the following is TRUE about both sides of the trial balance?
Both sides are always positive
Both sides are negative
Both sides are equal
Both sides are not linked which each other
Question 8: Which of the following would represent a non-cash expense for the business?
Cost of building
Cost of inventory
Cost of office equipment
Depreciation of building
Question 9: Which of the following is the adjustment that is added during the reconciliation of net income to operating cash flows in indirect method?
An increase in Accounts Receivable
An increase in Prepaid Expenses
Gain on sale of capital assets
Amortization Expense
Question 10: Financial statements are a subset of which of the following?
Financial reporting
Financial statement analysis
Accounting information
Accounting system
