Accounting Questions:

1. Explain the difference between accrual accounting and cash accounting.
2. What is the purpose of a trial balance in accounting?
3. Define the term "depreciation" in accounting.
4. How does the matching principle relate to accounting?
5. What are the key components of a balance sheet?
6. Describe the concept of goodwill in accounting.
7. What is the significance of the double-entry accounting system?
8. Explain the term "liquidity ratio" in financial analysis.
9. How does inventory valuation impact financial statements?
10. Discuss the role of auditors in ensuring financial transparency.

Answer rating: 100% (QA)

1 Accrual accounting vs cash accounting Accrual accounting Records revenues and expenses when they are incurred regardless of when cash is exchanged It matches revenues with expenses giving a more acc... View the full answer