Hint | Answer | % Correct | |
---|---|---|---|
J | Book of original entry | Journal | 81%
|
B | Other term for Statement of Financial Position | Balance Sheet | 76%
|
I | Temporary Account (+) | Income | 60%
|
P | Two or more persons bind themselves to contribute money, property or industry to a common fund with an intention of dividing the profits among themselves. | Partnership | 53%
|
Elements of Accounting, Dr. as Normal balance | Asset/Expense | 46%
| |
A | Asset= Liabilities + Capital | Accounting Equation | 44%
|
E | Independent Auditor other name | External Auditor | 24%
|
C | Revenue minus variable cost | Contribution Margin | 22%
|
A | Already earned but not yet receive | Accrued Income | 21%
|
R | Net Income/ Asset | Return on Assets | 20%
|
P | Father of Accounting | Fr. Luca Pacioli | 19%
|
G | Underlying Principle | Going Concern | 17%
|
O | The average time between purchasing or acquiring inventory and receiving cash proceeds from its sale. | Operating Cycle | 14%
|
R | Last procedure in accounting cycle | Reversing Entries | 14%
|
N | Accounts Receivable less Allowance for doubtful accounts | Net Realizable Value | 9%
|
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