OCP Group E-Cademy Dominique Jacquet

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Course « Accounting For Entrepreneurs » Module 3 – Test / MCQ

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Accounting for entrepreneurs
Accounting for entrepreneurs, module 3 // Purchase of a machine, Progress Report
Course « Accounting For Entrepreneurs » Module 3 – Test / MCQ

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Question 1 of 10

1. Question

Which of these statements is FALSE: financial charges appear as an expense in the income statement, because…

a) This is the equivalent of the rent you have to pay to have the right to use the financial debt
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b) They include the repayment of the debt in addition to the remuneration of the financial debt
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c) They represent a consumption generated during the year and related to the activity
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Question 2 of 10

2. Question

Operating cash flow is calculated after changes in financial debt

a) True
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b) False
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Question 3 of 10

3. Question

A machine costs $180k and is amortized over 10 years. Periodic depreciation shall be equal to

1. $18,000 per month
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2. $1,500 per year
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3. $1,500 per month
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Question 4 of 10

4. Question

The inventories at the beginning of the period included 100 units at a unit cost of $50. During the period, the company manufactured 300 units at a cost of $60 each. It sold 250 units. Knowing that inventory accounting is done in FIFO mode, what is the cost of sales over the period?

a) $18,000
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b) $14,000
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c) $9,000
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d) $4,000
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Question 5 of 10

5. Question

Operating income is calculated before taxes, but after financial expenses

a) True
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b) False
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Question 6 of 10

6. Question

Free cash flow is calculated after deduction of industrial investments

a) True
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b) False
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Question 7 of 10

7. Question

Wages and salaries costs are…

1. Always fixed
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2. Always variable
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3. Fixed or variable according to the saturation of production capacity
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Question 8 of 10

8. Question

Net fixed assets are calculated by deducting from gross fixed assets

1. Depreciation & Amortization of the period
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2. Accumulated Depreciation & Amortization
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Question 9 of 10

9. Question

By accounting for inventories in FIFO mode, the unit cost of the products sold is a figure between the unit cost of production and the unit cost of the products stored at the beginning of the period.

a) True
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b) False
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Question 10 of 10

10. Question

An investment is not profitable if its payback is greater than the life of the investment.

a) True
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b) False
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