Finance & Accounting Quiz

Froggy Jumps

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Test your finance know-how

Created by

Leshlie Ivonne Cabrera Garcia

Mexico

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Froggy Jumps Finance & Accounting QuizOnline version Test your finance know-how by Leshlie Ivonne Cabrera Garcia 1 What is the basic accounting equation? a Assets = Liabilities - Equity b Assets + Liabilities = Equity c Assets = Liabilities + Equity 2 Which report shows a company’s financial position at a specific date? a Income statement b Balance sheet c Cash flow statement 3 Depreciation allocates the cost of a tangible asset over its what? a Tax year b Useful life c Current market value 4 FIFO stands for what inventory method? a First-In, Final-Out b Fast-In, Fast-Out c First-In, First-Out 5 Which accounting basis recognizes revenue when earned and expenses when incurred? a Accrual basis b Cash basis c Tax basis 6 What does ROA measure? a Asset turnover b Return on Equity c Return on Assets 7 How is gross margin defined? a Net income divided by revenue b Gross profit divided by revenue c Revenue divided by COGS 8 What does the accounts receivable turnover assess? a Efficiency of collecting receivables b Inventory management efficiency c Debt repayment speed 9 Which transaction would appear in cash flow from financing activities? a Selling inventory b Issuing common stock c Purchasing equipment 10 Which framework is primarily used for financial reporting in the United States? a IFRS b IAS c GAAP

Froggy Jumps

Finance & Accounting QuizOnline version

Test your finance know-how

by Leshlie Ivonne Cabrera Garcia

What is the basic accounting equation?

Assets = Liabilities - Equity

Assets + Liabilities = Equity

Assets = Liabilities + Equity

Which report shows a company’s financial position at a specific date?

Income statement

Balance sheet

Cash flow statement

Depreciation allocates the cost of a tangible asset over its what?

Tax year

Useful life

Current market value

FIFO stands for what inventory method?

First-In, Final-Out

Fast-In, Fast-Out

First-In, First-Out

Which accounting basis recognizes revenue when earned and expenses when incurred?

Accrual basis

Cash basis

Tax basis

What does ROA measure?

Asset turnover

Return on Equity

Return on Assets

How is gross margin defined?

Net income divided by revenue

Gross profit divided by revenue

Revenue divided by COGS

What does the accounts receivable turnover assess?

Efficiency of collecting receivables

Inventory management efficiency

Debt repayment speed

Which transaction would appear in cash flow from financing activities?

Selling inventory

Issuing common stock

Purchasing equipment

Which framework is primarily used for financial reporting in the United States?

IFRS

IAS

GAAP

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Finance & Accounting Quiz

Froggy Jumps

About this activity

Created by

Download the paper version to play

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Froggy Jumps

Finance & Accounting QuizOnline version

by Leshlie Ivonne Cabrera Garcia

What is the basic accounting equation?

Which report shows a company’s financial position at a specific date?

Depreciation allocates the cost of a tangible asset over its what?

FIFO stands for what inventory method?

Which accounting basis recognizes revenue when earned and expenses when incurred?

What does ROA measure?

How is gross margin defined?

What does the accounts receivable turnover assess?

Which transaction would appear in cash flow from financing activities?

Which framework is primarily used for financial reporting in the United States?

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