10 May WHICH OF THE FOLLOWING IS THE EQUATION FORM OF LONG-TERM LIABILITIES?
Which of the following is the equation form of long-term liabilities?Question 1 options:cash marketable securities accounts receivable prepaid expenses inventorycash marketable securities accounts receivable – prepaid expenses inventoryinvestments fixed assets – accumulated depreciation intangible assetsnotes payable accounts payable other items payable dividends payable the current portion of long-term debtlong-term debt pension fund liabilities long-term lease obligationsSaveQuestion 2 (1 point)Which of the following is the most liquid of all current assets?Question 2 options:Marketable securityAccounts receivablesCashNotes receivablePrepaid expenseSaveQuestion 3 (1 point)Which of the following is a cash inflow from operating activities?Question 3 options:Interest from securitiesSale of debt or equityCollection of the principle of loansSale of securitiesIssue debt instrumentsSaveQuestion 4 (1 point)Which of the following is the equation form of net profit?Question 4 options:income – COGSgross profit – operating expensesliabilities owner’s equityoperating profit – other revenues and expensesEBT – taxesSaveQuestion 5 (1 point)Which of the following is a disadvantage of using a cash-based accounting system?Question 5 options:It may be misleading with respect to understanding a company’s actual cash position.It can distort measure of the profitability of a business.It needs greater bookkeeping requirements.It is a more sophisticated approach to accounting.It provides an accurate indication of the profitability of a business.SaveQuestion 6 (1 point)Which of the following is the equation form of assets?Question 6 options:income – COGSgross profit – operating expensesliabilities owner’s equityoperating profit – other revenues and expensesEBT – taxesSaveQuestion 7 (1 point)Which of the following defines accrual accounting system?Question 7 options:Measures the cost of replacing an employee.Provides the appropriate information to the external community.Records transactions when money is either received or spent.Provides information to the management of a business and aids in internal controls.Records transactions when they occur.
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