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Quiz about American Accounting Vocabulary
Quiz about American Accounting Vocabulary

American Accounting Vocabulary Quiz


Beginning Accounting Vocabulary

A multiple-choice quiz by Benji512. Estimated time: 4 mins.
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Author
Benji512
Time
4 mins
Type
Multiple Choice
Quiz #
51,260
Updated
May 30 23
# Qns
5
Difficulty
Tough
Avg Score
3 / 5
Plays
2747
Last 3 plays: gogetem (5/5), Guest 174 (5/5), Guest 1 (3/5).
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Question 1 of 5
1. The length of time between financial reports is a fiscal period or fiscal year.


Question 2 of 5
2. The official document sent to the government to become a corporation are the Articles of Incorporation.


Question 3 of 5
3. If only one person owns a business this is a sole proprietorship.


Question 4 of 5
4. What single word can be used to describe the investment that is needed to get a business started? Hint - the first letter is "C".

Answer: (One Word)
Question 5 of 5
5. Anything that has value for a future period is called an __________ .

Answer: (One Word)

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Most Recent Scores
Today : gogetem: 5/5
Mar 06 2024 : Guest 174: 5/5
Mar 02 2024 : Guest 1: 3/5
Feb 23 2024 : Guest 103: 3/5
Feb 23 2024 : Guest 93: 3/5
Feb 10 2024 : Guest 163: 4/5
Feb 01 2024 : Guest 66: 5/5
Jan 30 2024 : Guest 77: 3/5

Score Distribution

quiz
Quiz Answer Key and Fun Facts
1. The length of time between financial reports is a fiscal period or fiscal year.

Answer: True

The term 'finanicial year' is used mainly in British English.
2. The official document sent to the government to become a corporation are the Articles of Incorporation.

Answer: True

3. If only one person owns a business this is a sole proprietorship.

Answer: True

4. What single word can be used to describe the investment that is needed to get a business started? Hint - the first letter is "C".

Answer: capital

In accounting, the term "capital" is used to describe the initial investment required to get the business started and thus generate income. "Collateral" is also a valid answer.
5. Anything that has value for a future period is called an __________ .

Answer: asset

Source: Author Benji512

This quiz was reviewed by FunTrivia editor natsim before going online.
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