Quiz-Busters - Accounting and Finance

Accounting and Finance

Terminology associated with accounting and finance for AQA A2 Accounting and Finance.
What B is a document describing the financial position of a firm at a particular point in time?. What P is an account that shows revenue and expenditure?. What C is a financial document showing the flow of cash into and out of a business?. What M is the creation of financial information for use by internal users?. What A is items that are owned by an organisation?. What F is the provision of financial information to show external users the financial position?. What G is revenue minus cost of sales?. What O is the revenue earned from everyday trading?. What N is gross profit minus expenses or overheads?. What L are the debts owed by an organisation to suppliers, shareholders etc?. What O is when an asset is still functioning but no longer considered useful (out of date)?. What D is the fall in value of an asset overtime, reflecting the wear and tear of the asset?. What W is day to day finance used in a business, consisting of current assets minus liabilities?. What L is ability to convert an asset into cash without loss or delay?. What H is method of stock valuation that values stock at the price that an organisation paid for it?. What N is method of stock valuation that values stock at the price for which it can be sold?. What W is when a business prepares it's accounts in the most favourable way possible?. What R is a method of assessing a firm's financial situation by comparing two sets of linked data?. What C is selling price minus direct or variable cost per unit?. What T is total revenue minus total direct costs or total variable costs?.