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Questions and Answers
What is a Chart of Accounts?
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?
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?
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?
What is depreciation?
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