Accounting Entries Quiz

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10 Questions

___ is used to measure the variation in cash between the beginning and the end of a period

Cash Flow Statement

Assets = Equity + ___

Liabilities

A journal entry must affect at least 2 accounts: one must be debited and the other one must be ___

credited

___ activities include sources and uses of cash from financing and investing

Cash Flow

Classification of assets into current and non-current is important in understanding a company's ___ position

financial

The relationship between the P&L (Profit & Loss) statement and the Balance Sheet is an important ___ concept

accounting

___ is the cash generation available for distribution among all financing parties of a company

Free Cash Flow (FCF)

In bookkeeping, a journal entry must have equal debit and ___ amounts

credit

___ accounting methods consider the lifetime of an investment for depreciation

Straight line or complex

P&L statement records all ___ and losses as debits, and all incomes and gains as credits

expenses

Test your knowledge on accounting entries by identifying the debited and credited accounts for various transactions. Questions include recording investments, sales, and inventory transactions.

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