ScholarBee University Admissions and Programs 2026

Question 1

What is the primary objective of a 'Capital Budget'?

Accepted Answer

To plan and manage long-term investments in major assets

Answer

To track daily office supplies expenses

Answer

To reconcile bank statements

Answer

To calculate employee salaries

Question 2

Which financial account is increased by a 'debit' entry?

Accepted Answer

Cash

Answer

Accounts Payable

Answer

Revenue

Answer

Common Stock

Question 3

Which financial statement provides a snapshot of a company's financial position at a specific point in time?

Accepted Answer

Balance Sheet

Answer

Income Statement

Answer

Statement of Cash Flows

Answer

Statement of Retained Earnings

Question 4

What is the primary purpose of 'double-entry bookkeeping'?

Accepted Answer

To ensure that every transaction affects at least two accounts to maintain the accounting equation

Answer

To track tax liabilities twice

Answer

To prevent theft by employees

Answer

To double the profit reporting

Question 5

Which ratio measures a company's ability to pay off its short-term liabilities with its current assets?

Accepted Answer

Current Ratio

Answer

Debt-to-Equity Ratio

Answer

Return on Investment

Answer

Inventory Turnover

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