Sample card prompts

• What is the mathematical identity known as the basic accounting equation?
• Which financial statement is designed to report the firm's revenues and expenses over a specific period?
• Assets are classified as "current" if they are expected to be converted to cash or consumed within one year or the \_\_\_\_\_.
• Which financial statement reports the changes in each component of equity, such as share issuances and dividends, over a period?
• What term describes the average time from the initial cash outflow for inputs to the cash inflow from customer collections?
• Which financial statement reconciles accrual-basis net income to the actual change in a firm's liquidity?
• Which section of the Statement of Cash Flows reports cash paid to purchase long-lived productive assets like property or equipment?
• Cash received from issuing common stock is reported in which section of the Statement of Cash Flows?
• Which section of the Statement of Cash Flows reports the cash effects of a firm's core revenue-generating activities?
• Which financial statement uses the "stock" of cash to explain the change between two consecutive balance sheets?
• In the expanded accounting equation, which two account types decrease total stockholders' equity?
• How does a credit entry affect the balance of a Cash account?

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