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What is the accounting term for the total cost incurred to generate revenue, excluding cost of goods sold?
Answer
Operating expenses
Under IFRS, what is the term for the value at which an asset is carried on the balance sheet?
Answer
Carrying amount
What is the term for the excess of current assets over current liabilities?
Answer
Working capital
What is the name of the IFRS statement that includes both net income and other comprehensive income?
Answer
Statement of comprehensive income
What is the name of the financial statement that shows the sources and uses of cash?
Answer
Cash flow statement
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Latest trivia questions
What is the term for the excess of current assets over current liabilities?
Answer
Working capital
What is the name of the IFRS statement that includes both net income and other comprehensive income?
Answer
Statement of comprehensive income
What is the name of the financial statement that shows the sources and uses of cash?
Answer
Cash flow statement
What is the accounting term for profits distributed to shareholders?
Answer
Dividends
Which financial statement summarizes revenues and expenses over a period?
Answer
Income statement
What is the term for money a business owes to its suppliers for purchases on credit?
Answer
Accounts payable
What does GAAP stand for in accounting?
Answer
Generally Accepted Accounting Principles
What IFRS standard governs accounting for leases?
Answer
IFRS 16