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Business, 30.11.2019 15:31 21marmong

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1) which of the following is not a core module of accounting?
a. accounts receivable
b. accounts payable
c. debt collection
d. purchase orders

2) what is general ledger also known as?
a. a normal ledger
b. a nominal ledger
c. an enumerated ledger
d. none of the above

3) which of the following is not one of the seven basic accounting categories?
a. asset
b. gains
c. losses
d. investment

4) the listing of the account names and the sum of the account balances is called what?
a. a total balance
b. a complete balance
c. an absolute balance
d. a trial balance

5) which of the following should be included in a general ledger?
a. date
b. description
c. total amount for each account
d. all of the above

6) what kind of statement is also known as a profit and loss statement?
a. complete statement
b. income statement
c. investment statement
d. earning statement

7) what kind of statement shows how changes in balance sheet and income accounts affected cash and cash equivalents?
a. cash flow statement
b. investment statement
c. earnings statement
d. income statement

8) a balance sheet is often described as of the company's financial condition on a given date.
a. picture
b. snapshot
c. photo
d. slideshow

9) what is the purpose of an income statement?
a. to show managers and investors whether the company is up-to-date on taxes
b. to show managers and investors whether the company is spending its money appropriately
c. to show managers and investors whether the company made or lost money during the period of being reported
d. none of the above

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Answers: 3

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