US Major Accounting Test 3

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20 questions · All questions on one page

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University Major — Test 3 (Accounting) University (Undergraduate Majors, USA) USA USA University Majors Curriculum

What is this test? for University Major review (University Major — Test 3 (Accounting)), USA — University (Undergraduate Majors, USA) level, USA.
For University students (Undergraduate) in Test 3 (Accounting) in the USA — is this your major?
Section: University Major — Test 3 (Accounting) · Education: University (Undergraduate) · Part: University Major — Test 3 (Accounting) · Country: USA

Finance and real estate acumen covers markets, valuation, contracts, and budget management.

This test is designed to reinforce core concepts and help you succeed on your exams.

By solving this test of 20 questions, you can both test your knowledge and identify the topics you need to improve.

Question 1

What is economics?

A) Choice under scarcity

B) Free goods

C) No choices

D) Only money

Question 2

What is operations?

A) Selling only

B) Making delivering

C) Counting only

D) No making

Question 3

What is the accounting equation?

A) Profit only

B) No equation

C) Assets equal liabilities equity

D) Cash only

Question 4

What is inflation?

A) Falling prices

B) Flat wages

C) High taxes

D) Rising prices

Question 5

What is interest?

A) Borrowing cost

B) Free money

C) Savings gift

D) Tax refund

Question 6

What best defines SWOT?

A) No analysis

B) Strengths weaknesses opportunities threats

C) Numbers only

D) One factor

Question 7

Provide the definition of revenue:

A) Costs

B) Debts

C) Earned income

D) Losses

Question 8

Provide the definition of a budget:

A) Tax bill

B) Bank loan

C) Savings jar

D) Spending plan

Question 9

Provide the definition of microeconomics:

A) Small-unit study

B) Whole economy

C) No study

D) World trade

Question 10

What best defines competition?

A) One seller

B) Rival sellers

C) No sellers

D) Government only

Question 11

Provide the definition of a stock:

A) Bond

B) Loan

C) Company share

D) Bill

Question 12

Provide the definition of a business plan:

A) No plan

B) One page

C) Oral pitch

D) Roadmap document

Question 13

Provide the definition of a monopoly:

A) Single seller

B) Many sellers

C) No sellers

D) Buyer group

Question 14

What best defines a balance sheet?

A) Movie

B) Snapshot finances

C) Letter

D) Ad

Question 15

Provide the definition of fiscal policy:

A) Court rulings

B) Trade deals

C) Tax-spend management

D) Money printing

Question 16

Which term means "Lent money paper"?

A) accounting

B) the accounting equation

C) a balance sheet

D) a bond

Question 17

Provide the definition of venture capital:

A) Startup funding

B) Bank loans

C) No funds

D) Grants only

Question 18

Provide the definition of diversification:

A) One stock

B) Spreading risk

C) No risk

D) Cash only

Question 19

Which term means "Online buying"?

A) accounting

B) the accounting equation

C) e-commerce

D) a balance sheet

Question 20

Which term means "Identity building"?

A) accounting

B) the accounting equation

C) a balance sheet

D) branding

US Major Accounting Test 3

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