
91
Test Yourself
B
elow you’ll fi nd 10 multiple-choice questions
to help you assess your knowledge of fi nance
and budgeting essentials. Answers appear af-
ter the test.
1. If you want to recognize the costs connected
to a sale during the period when the sale
was made, which accounting method would
you use?
a. Accrual accounting
b. Cash-based accounting
H6416.indb 91H6416.indb 91 12/19/13 9:41 AM12/19/13 9:41 AM