Financial Forecasting Test   The Net Income on the Cash Flow Forecast comes from the __________________. a. Balance Sheet b. Statement of Retained Earnings c. Forecasted Profit & Loss Statement d. Variance Analysis What does an increasing trend in Accounts…

Financial Reporting Test   How does the income statement of a charity differ from that of a public company? a. Charities typically have higher overhead expenses such as management wages b. Charities produce a similar report which shows funding sources,…

Statistics Test   Arranging your target population in an ordered scheme from which participants or items are chosen at regular intervals is an example of: a. Simple random sampling b. Systematic sampling c. Stratified sampling There are two ways to…

Financial Analysis Test   Which of the following are traded in the capital markets? a. Convertible securities b. Bonds c. Common stock d. Preferred stock e. All of the above Why do you not subtract interest expense from operating profit…

Accounts Receivable Test   The Method of recording bad debt expenses is known as the____________________ a. Bad Debt Method b. Allowance Method c. Expenses Method Merchandise returned by a customer for a credit on account or a cash refund is called…

Accounts Payable Test   Who typically calculates the tax liability to be paid? a. The State government, which informs the company what is owed b. The Accounts Payable staff c. The CFO d. The General or Tax Accountant within the…

Online Bookkeeping Test   Johnson Manufacturing Ltd. use the job order cost system. Overhead is applied at the rate of $20 per direct labor hour. Job #777 includes $2,000 of direct labor cost and 150 direct labor hours. $1,500 of…