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Accounting Knowledge Quiz

Created by

@ChampionOnyx3863

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Questions and Answers

Which of the following is an example of an intangible asset in accounting?

Patents and trademarks (correct)

Machinery and equipment

Inventory and stock

Land and buildings

What is the formula to calculate Return on Investment (ROI) in accounting?

Net Profit / Cost of Goods Sold

Net Profit / Total Assets

Net Profit / Shareholders' Equity (correct)

Net Profit / Equity

Which accounting principle states that expenses should be recognized in the same period as the revenues to which they relate?

Matching principle (correct)

Materiality principle

Consistency principle

Conservatism principle

Accounting Knowledge Quiz

Podcast Beta

Questions and Answers

Which of the following is an example of an intangible asset in accounting?

What is the formula to calculate Return on Investment (ROI) in accounting?

Which accounting principle states that expenses should be recognized in the same period as the revenues to which they relate?

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