Fundamentals of financial accounting
Last Update Jan 2, 2026
Total Questions : 393
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Accounting standards are used to produce the financial statements of all business entities.
Which ONE of the following best describes why accounting standards are needed?
A company has receivables of $60,000, which represents 60 payables days, and payables of $45,000, which represents 45 payables days.
What would be the effect on cash, if receivable days and payables days were reduced to 55 days and 40 days respectively?
ABC produces accounts to the year ended 31 December annually Extracts from the most recent financial statements are.
Which of the following ratios is a liquidity ratio?
Company X wants to find the total of all the transactions from its sales account. Where should Company Xlook?
TESTED 02 Jan 2026
