One of the components of income statement of trading company is gross profit (gross margin) which

represents the difference between

a. Profit before tax payment and profit tax;

b. Net revenues from sale and cost of sold goods i.e. acquisition value of sold goods;
c. Net sale and operating costs;
d. Revenues and expenses.

According to the performance elements provisional accounts can be:

a. Balance accounts and off-balance accounts;

b. Accounts of revenues and accounts of expenses;

c. Accounts of assets and accounts of liabilities.
d. Independent and dependant;

What of below mentioned does not belong to typical business events which cause four basic balance changes:
a. Decrease of liabilities with simultaneous increase of liabilities (size of balance not changed).
b. Increase assets and increase liabilities by the same amount (size of balance changed);
c. Decrease of assets with simultaneous decrease of liabilities by the same amount (size of balance
decreasing);

d. Increase assets with simultaneous decrease of liabilities by the same amount (size of
balance not changed);

In accounting literature of developed countries the most often quoted aspects of defining accounting are:
a. Accounting as a skill, service function of company;
b. Accounting as a technique, part of the management accounting system of the company;
c. Accounting as an art, scientific discipline;

d. Accounting as an art, technique or skill.

Information provided by accounting for the purpose of business decision-making have to meet the conditions
of following quality standards:
a. Neutrality and comparability.

b. Relevance, reliability, comparability and understandability.

c. Importance, reliability, intelligibility and neutrality.
d. Publicity and comparability.

Accounting literature of developed countries the most often quoted aspects of defining accounting are:
a. Accounting as an art, scientific discipline;
b. Accounting as a technique, part of the management accounting system of the company;

c. Accounting as an art, technique or skill.

d. Accounting as a skill, service function of company;

We can present elements of measuring a financial position and performance of operations of a legal entity on
the basic of extended accounting equation:

a. Assets = liabilities + original equity + retained earning dividends + revenues

expenses.
b. Assets = liabilities + retained earning;
c. Assets = liabilities + original equity + retained earning dividends;
d. Assets = liabilities + original equity;

According to the performance elements provisional accounts can be:

a. Accounts of assets and accounts of liabilities.
b. Independent and dependant;

c. Accounts of revenues and accounts of expenses;

d. Balance accounts and off-balance accounts;

Business activities in the frame of regular business operations of a company, respecting business continuity
principle, have three elements:
a. Retrieve of capital, sale of land and other resources and acquisition and sale of goods.
b. Liquidity, solvency and profitability.

c. Financial activity, investment activity and operational activity.

d. Acquisition of capital, buying of land and other resources and production and sale of the products.

With trade companies the costs contained in invetories of goods are becoming expenses with:
a. In period when the goods are acquired and stored;

b. Sales of goods;
c. All costs of current period are considered as expenses.
d. Acquisition of goods;

Financial activity includes:

a. Acquiring of initial capital from the owner or lenders for the purpose of beginning
regular business including debt-repayment to the creditors and payment of yield on
investment/ profit to the owners.
b. Buying land, buildings and other resources, including its sale;
c. Hiring manager, workers and paying the taxes to the state;
d. Production, and selling of products to the customers, procurement and sale of goods, sale of services;

The double-entry bookkeeping system which represents backbone of accounting in written form was published
by:
a. J. Savary 1673 drafting Balance every two years under the influence of the French Trade Law (CODE DE
COMMERCE).

b. Luca Pacioli 1494 in his book Summa de arithmetica, geometria, proportioni et

proportionalit;
c. S. Stevin 1605 in his First annual financial statement;
d. Benko Kotruli, 1458 in his book On Trade and Perfect Trader;

Information provided by accounting for the purpose of business decision-making have to meet the conditions
of following quality standards:
a. Neutrality and comparability.
b. Importance, reliability, intelligibility and neutrality.

c. Relevance, reliability, comparability and understandability.

d. Publicity and comparability.

What of below mentioned does not belong to typical business events which cause four basic balance changes:
a. Decrease of assets with simultaneous decrease of liabilities by the same amount (size of balance
decreasing);
b. Decrease of liabilities with simultaneous increase of liabilities (size of balance not changed).
c. Increase assets and increase liabilities by the same amount (size of balance changed);

d. Increase assets with simultaneous decrease of liabilities by the same amount (size of
balance not changed);

We can present elements of measuring a financial position and performance of operations of a legal entity on
the basic of extended accounting equation:
a. Assets = liabilities + retained earning;

b. Assets = liabilities + original equity + retained earning dividends + revenues

expenses.
c. Assets = liabilities + original equity + retained earning dividends;
d. Assets = liabilities + original equity;

Information provided by accounting for the purpose of business decision-making have to meet the conditions
of following quality standards:
a. Importance, reliability, intelligibility and neutrality.
b. Neutrality and comparability.
c. Publicity and comparability.

d. Relevance, reliability, comparability and understandability.

One of the components of income statement of trading company is gross profit (gross margin) which
represents the difference between:
a. Profit before tax payment and profit tax;

b. Net revenues from sale and cost of sold goods i.e. acquisition value of sold goods;
c. Revenues and expenses.
d. Net sale and operating costs;

Business activities in the frame of regular business operations of a company, respecting business continuity
principle, have three elements:

a. Financial activity, investment activity and operational activity.

b. Acquisition of capital, buying of land and other resources and production and sale of the products.
c. Retrieve of capital, sale of land and other resources and acquisition and sale of goods.
d. Liquidity, solvency and profitability.

In accounting literature of developed countries the most often quoted aspects of defining accounting are:

a. Accounting as an art, technique or skill.

b. Accounting as an art, scientific discipline;
c. Accounting as a technique, part of the management accounting system of the company;
d. Accounting as a skill, service function of company;

According to the performance elements provisional accounts can be:

a. Independent and dependant;
b. Accounts of assets and accounts of liabilities.
c. Balance accounts and off-balance accounts;

d. Accounts of revenues and accounts of expenses;