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Accounting

Quiz by AJ Mai

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3 questions
Show answers
  • Q1
    What is an example of a current liability?
    Long-term Debt
    Fixed Assets
    Accounts Payable
    Common Stock
    30s
  • Q2
    What is the primary purpose of financial accounting?
    To calculate tax liabilities
    To assist in managerial decision-making
    To prepare budgets for future periods
    To provide financial information to external stakeholders
    30s
  • Q3
    What does GAAP stand for in accounting?
    Global Accounting and Assessment Protocols
    Generally Approved Accounting Policies
    General Accounting and Auditing Practices
    Generally Accepted Accounting Principles
    30s

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