Run the accounting gates

Exercise and reference answers

Questions

1. Correct

   Assets

   Choices

   1. Assets
   2. Liabilities
   3. Equity

2. Correct

   Liabilities

   Choices

   1. Assets
   2. Liabilities
   3. Equity

3. Correct

   Equity

   Choices

   1. Assets
   2. Liabilities
   3. Equity

4. Correct

   Income

   Choices

   1. Balance
   2. Income
   3. Cash flow

5. Correct

   Acid test

   Choices

   1. Current
   2. Acid test
   3. Margin

6. Correct

   Margin

   Choices

   1. Current
   2. Acid test
   3. Margin

Instructions

Pick the element, then the statement, then the ratio that fits each clue.

Explanation