OCP Group E-Cademy Dominique Jacquet

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Course « Accounting For Entrepreneurs » Module 1 – Test / MCQ

Only one possible answer per question

Accounting for entrepreneurs
Accounting for entrepreneurs , module 1 // Transforming profit into cash, Wrap-up
Course « Accounting For Entrepreneurs » Module 1 – Test / MCQ

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Question 1 of 10

1. Question

To calculate the gross margin, we subtract from the sales revenue…

The cost of the products purchased
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The cost of the products produced
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The cost of goods sold
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Question 2 of 10

2. Question

The balance sheet item that reflects the difference between the recognition of sales and receipts is called…

Cash at end of period
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Accounts Receivable
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Accounts Payable
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Question 3 of 10

3. Question

Accounts Payable appears on the balance sheet…

a) On the assets side
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b) On the equity & liabilities side
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Question 4 of 10

4. Question

Retained Earnings (accumulated results reinvested) appear in the equity, as they constitute part of the investment made by the company’s shareholders

a) True
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b) False
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Question 5 of 10

5. Question

Inventories appear in the balance sheet…

a) At their potential selling price
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b) At their cost
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Question 6 of 10

6. Question

The last line (bottom line) of the income statement is called net income, because the latter measures what remains to the shareholders after having paid all the stakeholders.

a) True
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b) False
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Question 7 of 10

7. Question

A balance sheet may balance and still be wrong

a) True
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b) False
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Question 8 of 10

8. Question

What is the right formula for the Working Capital Requirement ? WCR =

a) Inventories + Accounts Receivable + Accounts Payable
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b) Inventories + Accounts Receivable – Accounts Payable
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c) Inventories – Accounts Receivable – Accounts Payable
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d) None of the previous formulas
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Question 9 of 10

9. Question

An increase (respectively decrease) in WCR translates into an increase (or decrease) in cash flow…

a) True
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b) False
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Question 10 of 10

10. Question

The Funds From Operations reflect the transformation of income into cash. The formula is: FFO =

1. Result + change in WCR
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2. Result – change in WCR
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3. Result – WCR
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