Becky and Carl work for a marketing firm. The two accountants discuss the organization’s financial performance. Carl asks Becky, “What’s the bottom line?” Becky reviews a financial report that shows the firm’s profitability over the last quarter. The document Becky reviews is called the Multiple Choice tax return. ledger. audit. income statement. 7 Diedre works at Sally’s Autobody Workshop. Her main job responsibility is to record the routine, day-to-day business transactions of the firm. Based on this information, Diedre is a Multiple Choice tax accountant. forensic accountant. bookkeeper. CMA. 8 A new fitness company called Jump Athletics receives a trademark for its brand name. The trademark received by Jump Athletics is a Multiple Choice return on asset. current asset. liquid asset. fixed asset. 9 Rowena, a senior manager at Top of the Line Publishing, wants a quick snapshot of the company’s financial position before she goes to a manager’s meeting. In this case, which of the following financial statements is Rowena most likely to use? Multiple Choice dividend report statement of cash flows balance sheet income statement 10 The accounting team at Grey Apparel prepares a summary of the company’s financial information, products, and growth plans for Grey Apparel’s owners and potential investors. This document, which is produced once a year, is the Multiple Choice annual report. earnings statement. tax documentation. balance sheet.
6
Becky and Carl work for a marketing firm. The two accountants discuss the organization’s financial performance. Carl asks Becky, “What’s the bottom line?” Becky reviews a financial report that shows the firm’s profitability over the last quarter. The document Becky reviews is called the
Multiple Choice
tax return.
ledger.
audit.
income statement.
7
Diedre works at Sally’s Autobody Workshop. Her main job responsibility is to record the routine, day-to-day business transactions of the firm. Based on this information, Diedre is a
Multiple Choice
tax accountant.
forensic accountant.
bookkeeper.
CMA.
8
A new fitness company called Jump Athletics receives a trademark for its brand name. The trademark received by Jump Athletics is a
Multiple Choice
return on asset.
current asset.
liquid asset.
fixed asset.
9
Rowena, a senior manager at Top of the Line Publishing, wants a quick snapshot of the company’s financial position before she goes to a manager’s meeting. In this case, which of the following financial statements is Rowena most likely to use?
Multiple Choice
dividend report
statement of cash flows
balance sheet
income statement
10
The accounting team at Grey Apparel prepares a summary of the company’s financial information, products, and growth plans for Grey Apparel’s owners and potential investors. This document, which is produced once a year, is the
Multiple Choice
annual report.
earnings statement.
tax documentation.
balance sheet.
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