Accounting Skills: Post Course Assessment
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Question 1 of 10
1. Question
The formula for calculating the current ratio is…
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Question 2 of 10
2. Question
The difference between financial statements and financial reports is that…
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Question 3 of 10
3. Question
__________ is the exercise of recording all the transactions that take place in a business.
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Question 4 of 10
4. Question
In any journal or ledger, debits always appear on the_______________ side while credits always appear on the______________side.
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Question 5 of 10
5. Question
True or False: The cost of creating a product is referred to as the cost of goods sold.
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Question 6 of 10
6. 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 7 of 10
7. Question
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 8 of 10
8. Question
True or False: Depreciation refers to the interest collected on an account.
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Question 9 of 10
9. Question
A chequebook is an example of…
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Question 10 of 10
10. Question
When reading an annual report, you should start with:
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