ENTREPRENEURSHIP

Froggy Jumps

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QUIZ IN ENTREPRENEURSHIP

Created by

Racadio, April Kate T.

Philippines

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ENTREPRENEURSHIP


Froggy Jumps ENTREPRENEURSHIPOnline version QUIZ IN ENTREPRENEURSHIP by Racadio, April Kate T. 1 The difference between total revenues and the cost of goods sold a Gross Profit b Operating Income c Revenue 2 The income generated from the company's primary operations a Sales b Other Sales c Income Tax 3 It includes the direct costs associated with producing the goods a COGS b Operating Expenses c Other expenses 4 It represents the company's profit or loss after all expenses, including taxes. a Net Income b Operating Income c Revenue 5 The company's profit or loss before accounting for income taxes a Income Before Taxes b Income Tax c Other Income and Expenses 6 Income and expenses that are not part of the core operations. a Other Income and Expenses b COGS c Operating expenses 7 Examples are interest income, interest expenses, and gains or losses from investments. a Other income and expenses b Operating Expenses c Operating Income 8 Operating income is derived by subtracting total operating expenses from the ___________. a Gross Profit b Other ncome and expenses c Income Tax Expenses 9 Operating income is derived by subtracting total ____________ from the gross profit. a Operating Expenses b Other Income and Expenses c Operating Profit 10 NOT part of Operating Expenses a Ingredients b Wages c Utility bills 11 Each financial transaction is recorded in two accounts, one as a debit and the other as a credit. a Double-entry b Hybrid c Single-entry 12 Use to track income and expenses related to specific projects or jobs. a Project-based bookkeeping b Cost accounting c Accrual basis bookkeeping 13 Focuses on tracking and allocating costs to specific products, services, or departments. a Cost Accounting b Cash basis c Accrual basis 14 Hybrid bookkeeping combines elements of both manual and ___________. a Computerized b Online c Hybrid 15 It often uses cloud-based accounting software. a Online bookkeeping b Computerized bookkeeping c Hybrid bookkeeping 16 It represents what a company owns or controls. a Asset b Liability c Equity 17 It represents a company's obligations or debts. a Liabilities b Asset c Equity 18 It represents the residual interest in the assets of a company after deducting its liabilities. a Equity b Asset c Liabilities 19 The following belongs to: Owner's Capital a Equity b Asset c Liability 20 The following belongs to: Retained Earnings a Equity b Asset c Liability 21 The following belongs to the following: Accounts Payable a Liability b Asset c Equity 22 The following belongs to the following: Accrued Expenses a Liability b Asset c Equity 23 The following belongs to the following: Lease Obligations a Liability b Asset c Equity 24 The following belongs to: Post-Employment Benefits a Liability b Asset c Equity 25 The following belongs to: Pension a Liability b Asset c Equity 26 The following belongs to: Equipment a Asset b Equity c Liability 27 The following belongs to: Long-term investment a Asset b Equity c Liability 28 The following belongs to: Accounts Receivable a Asset b Liability c Equity 29 The following belongs to: Prepaid Expenses a Asset b Liability c Equity 30 The following belongs to: Long term loans a Liability b Asset c Equity

ENTREPRENEURSHIP

Froggy Jumps

About this activity

Created by

Download the paper version to play

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ENTREPRENEURSHIPOnline version

by Racadio, April Kate T.

The difference between total revenues and the cost of goods sold

The income generated from the company's primary operations

It includes the direct costs associated with producing the goods

It represents the company's profit or loss after all expenses, including taxes.

The company's profit or loss before accounting for income taxes

Income and expenses that are not part of the core operations.

Examples are interest income, interest expenses, and gains or losses from investments.

Operating income is derived by subtracting total operating expenses from the ___________.

Operating income is derived by subtracting total ____________ from the gross profit.

NOT part of Operating Expenses

Each financial transaction is recorded in two accounts, one as a debit and the other as a credit.

Use to track income and expenses related to specific projects or jobs.

Focuses on tracking and allocating costs to specific products, services, or departments.

Hybrid bookkeeping combines elements of both manual and ___________.

It often uses cloud-based accounting software.

It represents what a company owns or controls.

It represents a company's obligations or debts.

It represents the residual interest in the assets of a company after deducting its liabilities.

The following belongs to: Owner's Capital

The following belongs to: Retained Earnings

The following belongs to the following: Accounts Payable

The following belongs to the following: Accrued Expenses

The following belongs to the following: Lease Obligations

The following belongs to: Post-Employment Benefits

The following belongs to: Pension

The following belongs to: Equipment

The following belongs to: Long-term investment

The following belongs to: Accounts Receivable

The following belongs to: Prepaid Expenses

The following belongs to: Long term loans