Finance
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Questions and Answers

What is a Chart of Accounts?

  • A list of financial accounts in an organization (correct)
  • A report of the organization’s expenses
  • An inventory list of all physical assets
  • A document that outlines the budgeting process
  • What is a cash flow statement?

  • A financial statement that shows the inflow and outflow of cash over a specific period. (correct)
  • A report that summarizes the company's balance sheet.
  • A document detailing the company's stock performance.
  • A summary of a company's sales revenue only.
  • What is a balance sheet?

  • A financial statement showing a company's assets, liabilities, and equity at a specific point in time. (correct)
  • A statement that summarizes a company's revenues and expenses over a period.
  • A document that outlines the budget for the upcoming financial year.
  • An internal report detailing employee performance metrics.
  • What is depreciation?

    <p>The decrease in value of an asset over time due to wear and tear.</p> Signup and view all the answers

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