Answer the following questions
1. In general terms, what is the purpose of accounting ? Accounting is record measures the activity
of a business and reports on the effects of these transaction on the firm’s
financial condition
2. Who uses the data which is provided by accounting records ?Accounting records and reports provided data
that are used by Management, stockholders, creditors, independent analyst,
banks, and government
3. What are the two types of records that are prepared by most
business ? The Income Statement and
Balance Sheet are the two types of records that are prepared by most business
4. What can one learn by analyzing the income statement and
balance sheet of a company ? By
analyzing these records, one can determine whether or not the activities of the
company have been good for it, also can identify how money was received and
spent by company
5. What is ratio analysis used for ? Ratio analysis, one major tool that used for the analysis of accounting
records.
B.
Choose the correct word available to
complete the following sentences
Record
(N)
Report (N)
Profit (N)
Record
(V)
Report
(V)
Profit (V)
1. Accounting is needed to record (V) all business transactions
2. He keeps very neat report (N)
3. Our firm’s current profit (N) are very high
4. They record (V) from their association with the company
5. Our profit (V) of accounts receivable show that $5.000 is
owed to us
6. The activity is record (V) on income statements and balance
sheets
7. Secretary had finished typing the report (N)before the
manager arrived at the office
8. How much does the company make profit (V) this year ?
C.
Complete the following words
1. This is name for buildings machinery, money in the bank and
money owned by customers Assets
2. The loss of value of the things in number one (1) Depreciation
3. Money which is borrowed Loan
4. The extra money a company or person pays for borrowing money
Interest
5. The total sum of money which is supplied by the owners of a
compay to set it up Capital
6. Cash or goods which the owner takes from the company for his
own private use Drawings
7. These are bought by people wishing to invest in the company Shares
8. The extra amount which is paid for a company above the value
of its assets Goodwill
9. The purchase of another company Acquisition
10. An official examination of the accounts Audit
11. A financial plan for the future Budget
12. A statement of tthe financial position the company Balance
sheet
13. The official books for keeping accounts Ledgers
14. A reduction in the price which is offered to customers Discount
15. This company has supplied goods but has not received any
money for them yet Creditor
16. Goods which has the comapny has avaiable to sell Stock
17. Customers who have received goods but not paid for them yet Debtors
18. This is the name of the difference between the credit and
debit side of a account Balance
19. Companies make this when they sell their goods for more than
it costs Profit
Tidak ada komentar:
Posting Komentar