Accounting Quiz 07

Keeping the log of financial information in books of original entries is called__________?

Grouping

Summarizing

Processing

Recording

Correct! Wrong!

In accounting an Economic event is referred to as:

Cash

Exchange of money

Transaction

Bank statement

Correct! Wrong!

For which step of accounting process the accountants of business entity prepare financial statements?

Communication of financial information

Making decisions about business

Recording financial information

Identification of economic event

Correct! Wrong!

Which of the following is the internal user of financial statements?

Manager of the business

Creditor of the business

Government agency

Shareholder of the business

Correct! Wrong!

Financial accounting provides financial information to all of the following external users except:

investors

Creditors

Government agencies

Managers

Correct! Wrong!

Which of the following is the external user of financial statements?

Manager of the business

Controller of the business

CEO of the business

Creditor of the business

Correct! Wrong!

Identify the correct sequence of accounting process

Identifying→recording→communicating

Communicating→Recording→Identifying

Recording→Communicating→Identifying

Identifying→communicating→recording

Correct! Wrong!

_________ is the first phase of accounting cycle?

Preparing journals

Identifying an economic event or transaction

Making decisions about business

Posting entries to ledger accounts

Correct! Wrong!

Auditing is what?

Preparation financial statements

Examination of financial statements

Maintaining the ledger records

Reporting the financial information

Correct! Wrong!

Bookkeeping mainly concerns with which part of accounting process?

Preparing financial statements

Analyzing

Auditing the books of accounts

Recording financial information

Correct! Wrong!

Accounting Quiz 07

Well Done !

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Accounting Quiz 07

Keeping the log of financial information in books of original entries is called__________?

In accounting an Economic event is referred to as:

For which step of accounting process the accountants of business entity prepare financial statements?

Which of the following is the internal user of financial statements?

Financial accounting provides financial information to all of the following external users except:

Which of the following is the external user of financial statements?

Identify the correct sequence of accounting process

_________ is the first phase of accounting cycle?

Auditing is what?

Bookkeeping mainly concerns with which part of accounting process?

About the author

Muhammad Arslan

Keeping the log of financial information in books of original entries is called__________?

In accounting an Economic event is referred to as:

For which step of accounting process the accountants of business entity prepare financial statements?

Which of the following is the internal user of financial statements?

Financial accounting provides financial information to all of the following external users except:

Which of the following is the external user of financial statements?

Identify the correct sequence of accounting process

_________ is the first phase of accounting cycle?

Auditing is what?

Bookkeeping mainly concerns with which part of accounting process?

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About the author

Muhammad Arslan