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Chapters 1-4 The Accounting Cycle
Chapters 5-8 Current Assets
Chapters 9-11 Long-Term Assets
Chapters 12-14 Liabilities/Equities
Chapters 15-16 Using Information
- Chapter 15: Financial Reporting and Concepts
- Chapter 16: Financial Analysis and the Statement of Cash Flows
Chapters 17-20 Managerial/Cost
Chapters 21-24 Budgeting/Decisions

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Question 1 of 10

1. Question
Accountants downplay the economic concept of profit and employ a more objective ____________ in computing net income.
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Question 2 of 10

2. Question
The ____________ is paramount to income measurement, and holds that an organization’s life can be divided into discrete measurement intervals.
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Question 3 of 10

3. Question
An accounting year that covers a period of time other than January 1 through December 31 is typically referred to as a ____________ year.
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Question 4 of 10

4. Question
Accrual basis revenue is generally recognized at the time services are ____________ or when goods are ____________ and ____________ to a customer.
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Question 5 of 10

5. Question
The ____________ holds that expenses should be recorded in the same time period as the revenues they helped to produce.
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Question 6 of 10

6. Question
____________ are goods and services purchased for future consumption and paid for in advance.
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Question 7 of 10

7. Question
The Accumulated Depreciation account is termed a ____________ asset.
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Question 8 of 10

8. Question
The reported amount for an asset, less its accumulated depreciation, is frequently referred to as ____________ .
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Question 9 of 10

9. Question
____________ revenue represents future revenue that has been collected but not yet earned, whereas ____________ revenues have been earned but not yet received.
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Question 10 of 10

10. Question
An adjusting journal entry to record an accrued expense would necessarily involve a ____________ to an expense account.
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Additional Resources

Illustrative Entries

Examples of journal entries for numerous sample transactions

Account Types

Typical financial statement accounts with debit/credit rules and disclosure conventions

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Includes financial and managerial terms

Time Value of Money

Future and present value tables

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Chapters 1-4
Chapters 5-8
Chapters 9-11
Chapters 12-14
Chapters 15-16
- Chapter 15: Financial Reporting and Concepts
- Chapter 16: Financial Analysis and the Statement of Cash Flows
Chapters 17-20
Chapters 21-24
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