Accounting Quiz 07

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

Shareholder of the business

Manager of the business

Government agency

Creditor of the business

Correct! Wrong!

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

Communication of financial information

Recording financial information

Identification of economic event

Making decisions about business

Correct! Wrong!

_________ is the first phase of accounting cycle?

Making decisions about business

Posting entries to ledger accounts

Identifying an economic event or transaction

Preparing journals

Correct! Wrong!

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

Summarizing

Processing

Recording

Grouping

Correct! Wrong!

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

investors

Creditors

Managers

Government agencies

Correct! Wrong!

Bookkeeping mainly concerns with which part of accounting process?

Auditing the books of accounts

Preparing financial statements

Analyzing

Recording financial information

Correct! Wrong!

Auditing is what?

Reporting the financial information

Examination of financial statements

Maintaining the ledger records

Preparation financial statements

Correct! Wrong!

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

Controller of the business

CEO of the business

Manager of the business

Creditor of the business

Correct! Wrong!

In accounting an Economic event is referred to as:

Transaction

Cash

Bank statement

Exchange of money

Correct! Wrong!

Identify the correct sequence of accounting process

Communicating→Recording→Identifying

Recording→Communicating→Identifying

Identifying→communicating→recording

Identifying→recording→communicating

Correct! Wrong!

Accounting Quiz 07

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Accounting Quiz 07

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

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

_________ is the first phase of accounting cycle?

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

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

Bookkeeping mainly concerns with which part of accounting process?

Auditing is what?

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

In accounting an Economic event is referred to as:

Identify the correct sequence of accounting process

About the author

Muhammad Arslan

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

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

_________ is the first phase of accounting cycle?

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

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

Bookkeeping mainly concerns with which part of accounting process?

Auditing is what?

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

In accounting an Economic event is referred to as:

Identify the correct sequence of accounting process

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About the author

Muhammad Arslan