INTANGIBLE ASSETS

Get ready!
Before you read the passage, talk about these questions.
1. Trademarks, copyright
2. The purchase is record in the purchase and expenses invoice transaction
Reading
Read the magazine article. Then, mark the following statements as true or false.
1. T
2. F
3. T
Vocabulary
1. C
2. D
3. E
4. A
5. B
Choose the sentences that uses the underlined part correctly
1. B
2. B
3. A
4. B
PRESENTING A P & L STATEMENT
Get ready!
Before you read the passage, talk about these questions.
1. Gross margin, operating expenses
2. It is used to measure the operational performance of the company in a given period
Reading
Read the P & L statement and memo. Then, choose the correct answers.
1. B
2. D
 3. D
Vocabulary
Match the words or phrases with the definitions
1. A
2. B
3. D
4. C
Read the sentence pairs. Choose which word or phrase best fits each blanck
1. A. Retailers
B. Variable expenses
2. A. Profit center
B. Margin per unit
3. A. Sales volume
B. Earnings before interest and tax
INTERNAL CONTROLS AGAINST MISTAKES AND TEFT
Reading
Read the article from an accounting journal. Then, choose the correct answers
1. B
2. C
3. C
Vocabulary
Match the words or phrases with the definitions
1. A
2. D
3. B
4. E
5. C
Read the sentence pairs. Chose which word or phrase best fits each blanck
1. A. accounting controls
B. Fraud
2. A. forgery
B. Shoplifting
 3. A. Deceit
B. Pilfering
ACCRUAL BASIS ACCOUNTING – NON – CASH ACCOUNTS
Reading
Read the textbook passage. Then, choose the correct answers.
1. A
2. B
3. B
Vocabulary
Match the words or phrases with the definitions
1. C
2. A
3. B
4. D
Read the sentence pairs. Choose which word or phrase best fits each blank
1. A. paid for ahead of time
B. accounts receivable
2. A. accrual basis accounting
B. accounts payable
3. A. prepaid expense assets
B. cash basis accounting