A financial statement that reports the assets and claims to those assets at a specific point in time.
What is the balance sheet?
100
A financial statement that presents the revenues and expenses and resulting net income or net loss of a company for a specific period of time.
What is the income statement?
100
This actor once served prison time before resurrecting his career as a marquee Marvel character.
Who is Robert Downer Jr?
100
The information system that identifies, records, and communicates the economic events of an organization to interested users.
What is accounting?
100
Name at least three U.S. Presidential candidates who have won the popular vote but lost the election.
Who are Andrew Jackson, Samuel Tiden, Grover Cleveland, Al Gore, and Hillary Clinton?
200
A category on the balance sheet that includes cash, accounts receivable, equipment, and inventory.
What are assets?
200
The difference between revenue and expenses.
What is net income?
200
This intangible asset is not amortize but it is subject to the impairment test every year.
What is goodwill?
200
This part of the statement of cash flow reports the buying and selling of corporate assets.
What are investing activities?
200
This movie is the highest grossing film of all times (adjusted for inflation)?
What is Gone with the Wind?
300
The contra account to accounts receivables.
What is doubtful for allowance account?
300
A category on the income statement that represents the write off of uncollectible receivables.
What is bad debt?
300
A bond issued when the market price is greater than the coupon/stated rate.
What is a discount?
300
This form of internal controls regulates the reconciliation of the monthly bank statement against the general ledger.
What is a bank reconciliation?
300
This male athlete was a 1976 gold medal winner in the Olympics who later transitioned into a woman in 2015.
Who is Bruce (Kaitlyn) Jenner?
400
The amount of net income retained in the corporation.
What are retained earnings?
400
A rise in the allowance for doubtful accounts will result in a drop to this item on the income statement.
What is net income?
400
This singer won 2016 AMA favorite pop/rock male artist.
Who is Justin Bieber?
400
A set of rules and practices, having substantial authoritative support, that the accounting profession recognizes as a general guide for financial reporting purposes.
What is Generally Accepted Accounting Principles (GAAP)?
400
Name the rapper and the song that's performed on the following tune.
What is "Still Dre" by Dr. Dre (featuring Snoop Dogg)?
500
The owners' claim to assets.
What is stockkholder's equity?
500
This item on the income statement is considered a noncash expense that is directly tied to fixed assets such as equipment, vehicles, or buildings.
What is depreciation?
500
Net income is higher during periods of rising prices of inventory goods to be sold.
What is FIFO (first in, first out)?
500
Transactions that are recorded to the accounting records in the periods in which the events occur, not when it's paid.
What is accrual basis accounting?
500
This U.S. city has the fourth largest population in the country.