Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
Which of the following is an example of an intangible asset in accounting?
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?
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?
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
Flashcards are hidden until you start studying
