Exam 12: Small Business Accounting: Projecting and Evaluating Performance
Exam 1: Small Business: Its Opportunities and Rewards101 Questions
Exam 2: Small Business Entrepreneurs: Characteristics and Competencies100 Questions
Exam 3: Small Business Environment: Managing External Relations100 Questions
Exam 4: Small Business Ideas: Creativity, opportunity, and Feasibility99 Questions
Exam 5: Small Business Entry: Paths to Part-Time Entrepreneurship102 Questions
Exam 6: Small Business Entry: Paths to Full-Time Entrepreneurship100 Questions
Exam 7: Small Business Strategies: Imitation With a Twist100 Questions
Exam 8: Business Plans: Seeing Audiences and Your Business Clearly99 Questions
Exam 9: Small Business Marketing: Product and Pricing Strategies100 Questions
Exam 10: Small Business Promotion: Capturing the Eyes of Your Market100 Questions
Exam 11: Small Business Distribution and Location100 Questions
Exam 12: Small Business Accounting: Projecting and Evaluating Performance101 Questions
Exam 13: Cash: Lifeblood of the Business101 Questions
Exam 14: Small Business Finance: Using Equity, debt, and Gifts100 Questions
Exam 15: Assets: Inventory and Operations Management100 Questions
Exam 16: Small Business Protection: Risk Management and Insurance99 Questions
Exam 17: Legal Issues: Recognizing Your Small Business Needs101 Questions
Exam 18: Human Resource Management: Small Business Considerations100 Questions
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_____ is an accounting method which assigns costs based on the different types of work a business does in order to sell a particular product or service.
(Multiple Choice)
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Which of the following statements concerning the income statement is true?
(Multiple Choice)
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Legal obligations to give up things of value in the future are known as _____.
(Multiple Choice)
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The difference between an actual and budgeted revenue or cost is called:
(Multiple Choice)
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Which of the following accounting concepts has roots in the Mesopotamians who lived and kept records 5,000 years ago?
(Multiple Choice)
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Which of the following is not one of the primary criteria for a small business's record keeping system?
(Multiple Choice)
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Financial accounting is forward-looking and attempts to predict the results of management decisions.
(True/False)
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_______ are the accounts of assets,liabilities,and owners' equity,excluding accounts for revenues and expenses.
(Multiple Choice)
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The accounting equation is simply stated as Assets = Liabilities - Owners' Equity.
(True/False)
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________ information and reports are used when planning,organizing,staffing,directing,and controlling.
(Multiple Choice)
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Larry owns a successful business called Super Car-Hire.He plans to sell it to Bob.Bob assumes that he can keep up the high revenues if he can plan and execute the mission of the business well.Which of the following basic accounting concepts is reflected in Bob's assumption?
(Multiple Choice)
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Aaron,a businessman,has a method of keeping track of accounts receivable by sorting them into groups of those that are 30,60,90,and over 90 days past due.Aaron's key in controlling receivables is to have them _____,by sorting them into groups.
(Multiple Choice)
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_____ is the idea that it is cheaper (per item)to make many of an item than few.
(Multiple Choice)
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Eddie,the owner of a fast-food joint,finds that he spends far lesser when he bakes breads in dozens than when he bakes two or three loafs at a time.This idea of Eddie's is similar to the concept of:
(Multiple Choice)
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Which of the following accounting functions has been accurately described?
(Multiple Choice)
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Which of the following is a statement of what a business owns,what it owes to others,and how much value the owners have invested in it?
(Multiple Choice)
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The first step in budgeting is to make a forecast of your future sales.
(True/False)
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