Basics
This is the process of summarizing, analyzing and reporting financial transactions?
What is accounting?
The best country in the world
What is Scotland?
This is your profit before deduction of interest and taxes
What is operating profit?
The number of questions in this quiz
What are/is 25?
This colour represents a negative variance?
What is red?
Property of value owned by a business
What is an asset?
Step eight in the accounting cycle
What is post closing entries?
Identify Transactions is this step in the accounting cycle?
What is step 1?
Record transactions in a journal is this step in the accounting cycle?
What is step 2?
How much did New England lose in January 2014?
What is $3932
Legal obligation of a business to pay a debt?
What is a liability?
Cash, inventory, property are examples of these
What are assets or examples of assets?
Accounts payable, Rent, salaries payable are examples of these
What are liabilities?
Four main financial statements discussed?
What are the balance sheet, income statement, Changes in equity and Cash flow statement?
Prepare Trial balance is this step in the accounting cycle?
What is step 4?
Value of the shares issues by a company?
What is equity?
This outlines the costs to keep the “lights on” in your affiliate
What is the SG&A (Selling, General and Administrative Expenses)
This colour represents a positive variance
What is green?
Post journal to leger is this step in the accounting cycle?
What is step 3?
Justin is afraid of this?
What are Heights and Small Children?
Italian mathematician Luca Pacioli formulated this basic formula in 1494
What is the accounting equation?
This is the accounting practice of spreading the cost of an intangible asset over its useful life
What is amoritization?
This is the expensing of a fixed asset over its useful life.
What is depreciation?
All of the costs which are directly associated with carrying out an investigation
What is COSS?
Every plane has one?
What is a Glide Ratio?