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Eleventh Grade (Grade 11) Accounting Questions

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Grade 11 Accounting
The idea that a company will continue to operate indefinitely, and will not go out of business and liquidate its assets. For this to happen, the company must be able to generate and/or raise enough resources to stay operational.
  1. Sole Proprietorship
  2. Capital Gain
  3. Going Concern
  4. Accrued Liability
Grade 11 Accounting
Status of the assets, liabilities, and owners' equity (and their interrelationships) of a firm, as reflected in its financial statements. Also called financial condition.
  1. Capital
  2. Adequate Disclosure
  3. Accrued Liability
  4. Equity
Grade 11 Accounting
The residual income of a firm after adding total revenue and gains and subtracting all expenses and losses for the reporting period.
  1. Capital
  2. Equity
  3. Percentage Yield
  4. Net Income
Grade 11 Accounting
What market is associated with increasing investor confidence, and increased investing in anticipation of future price increases (capital gains). This trend in the stock market often begins before the general economy shows clear signs of recovery. It is a win-win situation for the investors.
  1. Bull Market
  2. Stock Market
  3. NASDAQ
  4. Bear Market
Grade 11 Accounting
What does the bear and the bull stand for?
  1. They are signs that the Stock Market is opened and closed.
  2. The bear means stocks are falling and the bull means stocks are going up.
  3. The bear means stocks are rising and the bull means stocks are falling.
Grade 11 Accounting
Example: You buy a new computer for your business costing approximately $5,000. You expect a salvage value of $200 selling parts when you dispose of it. Accounting rules allow a maximum useful life of five years for computers. In the past, your business has upgraded its hardware every three years, so you think this is a more realistic estimate of useful life, since you are apt to dispose of the computer at that time.
What is the yearly depreciation using the straight line formula:
Grade 11 Accounting
When a company (called the issuer) issues common stock or shares to the public for the first time, this is called the:
  1. Ask
  2. Stock Value
  3. Initial Public Offering
  4. Introduction to the Market
Grade 11 Accounting
In the United States, penny stocks are common shares of small public companies that trade at less than $1.00.
  1. True
  2. False
Grade 11 Accounting
A capital gain is a profit that results from investments into a capital asset, such as stocks, bonds or real estate, which exceeds the purchase price.
  1. True
  2. False
Grade 11 Accounting
The market price of a share of common stock is determined by:
  1. the board of directors of the firm
  2. the stock exchange on which the stock is listed
  3. individuals buying and selling the stock.
  4. the president of the company.
Grade 11 Accounting
What is Accelerated Depreciation?
Grade 11 Accounting
What does DJIA stand for?
  1. Danny James Internet Association
  2. Dow Jones Industrial Average
  3. There is no such thing.
Grade 11 Accounting
The following is a debt security, in which the authorized issuer owes the holders a debt and, depending on the terms, is obliged to pay interest (the coupon) and/or to repay the principal at a later date, termed maturity.
  1. Bid
  2. Money Market
  3. Dividend
  4. Bond
Grade 11 Accounting
What is the PE Ratio for Ambercrombie- Earning per share: $22.36, Price: $6.75
Grade 11 Accounting
What are some of the advantages and disadvantages to owning a Franchise?
Grade 11 Accounting
Describe the declining balance method:
Grade 11 Accounting
If the current bid price for the EUR/USD currency pair is 1.5760 and the current ask price is 1.5763, this means that currently you can sell the EUR/USD at 1.5760 and buy at 1.5763. The difference between those prices is called the __________________.
Grade 11 Accounting
What is the PE Ratio for Netflix-Earnings per share: $32.67, Price: $12.89
Grade 11 Accounting
What is a Bid and an Ask in the stock market?
Grade 11 Accounting
The PE Ratio for Hulu- Earnings per share : $6.78 Price: $56.28