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CMCP QUIZ QUESTIONS 2025 WITH CORRECT ANSWERS Quiz 1 Question 1: The three summary accounts represented in the fundamental accounting equations are: - --Answer --Assets = liability + owner's equity Quiz 1 Question 2: Jim tells a friend that some of the job functions he performs include acquiring property, paying for it, and reporting on what is acquired. These functions are a part of the _____ cycle - --Answer --Expenditure Quiz 1 Question 3: A company's abilities can be demonstrated by which three basic financial ratios listed below? (Select 3) - --Answer --EARNING POWER, SOLVENCY & LIQUIDITY Quiz 1 Question 4: Which financial statement shows revenues earned and expenses incurred in earning those revenues, resulting in net income or net loss for the period? - --Answer --INCOME STATEMENT Quiz 1 Question 5: When considering the importance of sustainability, which of the following are megatrends to shaping the 21st century? Select 6 - -- ....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1