Finance And Accounting - Upwork
 

  1. Question: Which of the following errors will be disclosed in the preparation of a trial balance?

    A
    Recording transactions in the wrong account.

    B
    Duplication of a transaction in the accounting records.

    C
    Posting only the debit portion of a particular journal entry.

    D
    Recording wrong amount for a transaction to both the account debited and the account credited.

    Note: answer not sure
    1. Report

  2. Question: Lindy & Co. use an allowance method to account for bad debts. They estimate that 5% of the outstanding accounts receivable will be uncollectible. At the end of the year, they have outstanding accounts receivable of $750,000, and a debit balance in the Allowance for Uncollectible Accounts of $9,000. They should record an uncollectible accounts expense of:

    A
    $28,500

    B
    $37,500

    C
    $46,500

    D
    $55,500

    Note: answer not sure
    1. Report

  3. Question: In which section of the balance sheet should inventory accounts be classified?

    A
    Current assets

    B
    Investments

    C
    Property, plant, and equipment

    D
    Intangible assets

    Note: answer not sure
    1. Report

  4. Question: When a stock has a breakout, what has happened?

    A
    The stock has taken off quickly and its popularity grown like a virus breakout.

    B
    The price has moved outside of the normal trading range either on the higher or on the lower end.

    C
    The price has declined so quickly that the company is forced to close its doors.

    D
    The volume has tripled.

    Note: answer not sure
    1. Report

  5. Question: What is the idea behind fundamental analysis?

    A
    Extensive mathematics will find winning stocks.

    B
    Fraud can be spotted.

    C
    The fundamentals of a company help dictate what the share price should be.

    D
    Opportunities for arbitrage trading can be found.

    Note: answer not sure
    1. Report

  6. Question: How are day traders able to quickly analyze information in order to make decisions?

    A
    They are math geniuses.

    B
    They hire a team of people to analyze the data ongoing.

    C
    They just make random guesses.

    D
    Complex software is available to conduct analysis and give alerts based on the traders' criteria.

    Note: answer not sure
    1. Report

  7. Question: What is "margin trading?"

    A
    Trading only in stocks with high potential for return

    B
    Using money borrowed from the brokerages to conduct stock transactions

    C
    Trading stocks of companies who have high gross margins

    D
    Selling stocks without owning them

    Note: answer not sure
    1. Report

  8. Question: When is stock analysis performed?

    A
    After the trading day to plan for the following day

    B
    A week in advance

    C
    Over several months

    D
    Always on the fly

    Note: answer not sure
    1. Report

  9. Question: What is "fundamental analysis"?

    A
    Stock analysis based on price and volume

    B
    Stock analysis based on the fundamentals of a company such as financial reports

    C
    Stock analysis based on a normal trading band

    D
    Stock analysis based on the previous day's trading mistakes

    Note: answer not sure
    1. Report

  10. Question: How is 'days to cover' calculated?

    A
    Always ten days as a rule

    B
    Number of shares outstanding / Daily share volume

    C
    Number of shares less shares held by execs / Daily share volume

    D
    Depends on the stock market; the formula varies from market to market

    Note: answer not sure
    1. Report
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