Create printable tests and worksheets from Business questions.

The Business questions below are in the following grade level(s): Grades: 7 9 College Graduate Continuing Education

• The financial statement that reports the revenues and expenses for a period of time such as a year or a month is the
  1. balance sheet
  2. income statement
  3. statement of cash flows

• Under the accrual basis of accounting, revenues are reported in the accounting period when the
  1. cash is received
  2. service or goods have been delivered

• The financial statement that reports the assets, liabilities, and stockholders' (owner's) equity at specific date is the
  1. balance sheet
  2. income statement
  3. statement of cash flows

• The expense associated with manufacturing items for resale is generally kown as?
  1. Administrative Overhead
  2. Gross Profit
  3. Cost of Sales
  4. Inventory

• Accumulated Depreciation normally carries a          credit         balance

• The financial statement that reports the revenues and expenses for a period of time such as a year or a month is the
  1. balance sheet
  2. income statement
  3. statement of cash flows

• Under the accrual basis of accounting, expenses are reported in the accounting period when the
  1. cash is paid
  2. expense matches the revenues or is used up

• A social device for spreading the chance of financial loss among a large number of people is the definition of
  1. hazard
  2. risk
  3. insurance
  4. peril

• After the complimentary close in a personal business letter what is the line spacing?
  1. Single space
  2. Double space
  3. Triple space
  4. Quadruple space

• What is the line spacing between the sub-title of a table and the table?
  1. single space
  2. double space
  3. triple space
  4. quadruple space