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- 1. Multiple Choice
Economic resources controlled by a company are reported in the financial statements as
assets
liabilities
equity
expenses
- 2. Multiple Choice
What is the ending date of a financial year in Australia?
April 30
June 30
July 1
December 31
- 3. Multiple Choice
Cost accounting is a form of
financial accounting
management accounting
- 4. Multiple Choice
EBIT may also refer to as
revenue
net income after tax
gross profit
operating income
- 5. Multiple Choice
Which of the ratio would you use to evaluate the liquidity of a company?
Debt ratio
Asset turnover ratio
Current ratio
Gearing ratio
- 6. Multiple Choice
Which of the following is NOT a financial report in a company's annual report?
Balance sheet
Budgeted income statement
Cashflow statement
Statement of profit and loss
- 7. Multiple Choice
The tax rate for large companies in Australia is generally
10%
30%
50%
There is no corporate tax in Australia.
- 8. Multiple Choice
Which of the following activity is NOT reported in a cashflow statement?
Accounting activity
Operating activity
Investing activity
Financing activity
- 9. Multiple Choice
Which of the following is contra-asset account?
Depreciation account
Accumulated depreciation account
Fixed asset account
Land account
- 10. Multiple Choice
Which of the following stakeholder would be an appropriate user of management accounting reports?
Investor
Creditor
Manager
Customer
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