What is the term for a company's own stock that it has repurchased from shareholders?
Answer
Treasury stock
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What is the term for a company's own stock that it has repurchased from shareholders?
Answer
Treasury stock
What is the name of the accounting method that records revenue when cash is received?
Answer
Cash basis accounting
What 1934 US law created the Securities and Exchange Commission?
Answer
Securities Exchange Act of 1934
What is the accounting term for the cost of borrowing money?
Answer
Interest expense
Which accounting concept states that items should be recorded at their original cost?
Answer
Historical cost principle
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Latest trivia questions
What is the name of the accounting method that records revenue when cash is received?
Answer
Cash basis accounting
What 1934 US law created the Securities and Exchange Commission?
Answer
Securities Exchange Act of 1934
What is the accounting term for the cost of borrowing money?
Answer
Interest expense
Which accounting concept states that items should be recorded at their original cost?
Answer
Historical cost principle
What financial ratio is calculated as current assets divided by current liabilities?
Answer
Current ratio
In accounting, what does the acronym CPA stand for?
Answer
Certified Public Accountant
What term describes a company's total sales minus the cost of goods sold?
Answer
Gross profit
What accounting standard is used by most countries outside the United States?
Answer
IFRS (International Financial Reporting Standards)
Which inventory method assigns cost based on the specific identification of each unit?
Answer
Specific identification method
What is the term for costs that have been incurred but not yet paid?
Answer
Accrued expenses