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Balance sheet: Quiz


Question 1: Securities and real estate values are listed at market value rather than at ________ or cost basis.
Equity (finance)Historical costAssetConstant Purchasing Power Accounting

Question 2: The oldest semi-public balance sheet recorded was that of the ________ dated 30 April 1671, which was submitted to the company's General Meeting on in 30 August 1671.
East India CompanyFrench East India CompanyChartered companyDutch East India Company

Question 3: Investment property, such as ________ held for investment purposes
Allodial titleCondominiumReal estateOwnership

Question 4: ________ accounted for using the equity method
InvestmentBond (finance)FinanceStock

Question 5: Contingent liabilities such as ________ are noted in the footnotes to the balance sheet.
WarrantyProduct liabilityConsumer protectionImplied warranty

Question 6: Records of the values of each account or line in the balance sheet are usually maintained using a system of accounting known as the ________.
Accounting equationEquity (finance)Double-entry bookkeeping systemAsset

Question 7: Shares reserved for issuance under options and ________
DuressDelegation (law)ContractSharia

Question 8: ________, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year.
Balance sheetValuation (finance)Cash flow statementAsset

Question 9: Records of the values of each account in the balance sheet are maintained using a system of accounting known as ________.
AccountancyAccounting equationAssetDouble-entry bookkeeping system

Question 10: [1] Of the four basic ________, the balance sheet is the only statement which applies to a single point in time.
Equity (finance)Annual reportFinancial statementsInternational Financial Reporting Standards


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