Surprise

SurpriseAccounting Play 12022-11-07T16:27:45+00:00

1Information

2Question 1-10

Name*
First Last
Email*
Want accounting tips and free accounting cheatsheet?
- Subscribe to our newsletter
Click next button to start the quiz

1. Who is the double entry master of the Renaissance?
- Luca Pacioli
- John Gillingham CPA
- AccountingPlay.com
- All of the above
2. What could “net of” refer to?
- Basketball
- Stocks
- Cost - depreciation
- Bonds
3. What could be a way to “catch a case” as a controller?
- Misappropriation of funds
- Collusion
- Back dating stock options
- All of the above
4. What are costs that may be a part of finished goods?
- Depreciation
- Factory labor
- Raw materials
- All of the above
5. In what type of entity could transfer pricing have relevance?
- Small partnership
- Large corporation
- Sole proprietorship
- Trust
6. Invoice 2/10, net/30 may mean:
- 2% discount if paid in 10 days or all due in 30 days
- 10% discount if paid in 2 days or all due in 30 days
- Invoice due on demand
- May be paid in trade
7. What does lower of cost or market deal with?
- Inventory costs
- Stock valuation
- Borrowing costs
- All of the above
8. What is a potential dark side of accrual basis accounting?
- Revenue manipulation
- Matching under GAAP
- Manipulation of cash balances
- All of the above
9. What is a “B” corporation?
- Bogus corporation
- Same as a C-corporation
- Benefit corporation
- All of the above
10. What does FOB shipping point versus FOB destination deal with?
- When to recognize an expense
- When to recognize a sale
- Vacation destinations
- All of the above
CAPTCHA

Δ