Accounting Quiz 07

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

Manager of the business

Government agency

Creditor of the business

Shareholder of the business

Correct! Wrong!

Identify the correct sequence of accounting process

Recording→Communicating→Identifying

Identifying→recording→communicating

Identifying→communicating→recording

Communicating→Recording→Identifying

Correct! Wrong!

_________ is the first phase of accounting cycle?

Preparing journals

Making decisions about business

Identifying an economic event or transaction

Posting entries to ledger accounts

Correct! Wrong!

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

Controller of the business

CEO of the business

Creditor of the business

Manager of the business

Correct! Wrong!

In accounting an Economic event is referred to as:

Bank statement

Exchange of money

Cash

Transaction

Correct! Wrong!

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

Communication of financial information

Recording financial information

Making decisions about business

Identification of economic event

Correct! Wrong!

Bookkeeping mainly concerns with which part of accounting process?

Analyzing

Recording financial information

Auditing the books of accounts

Preparing financial statements

Correct! Wrong!

Auditing is what?

Maintaining the ledger records

Preparation financial statements

Reporting the financial information

Examination of financial statements

Correct! Wrong!

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

Creditors

investors

Managers

Government agencies

Correct! Wrong!

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

Recording

Processing

Summarizing

Grouping

Correct! Wrong!

Accounting Quiz 07

Well Done !

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Accounting Quiz 07

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

Identify the correct sequence of accounting process

_________ is the first phase of accounting cycle?

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

In accounting an Economic event is referred to as:

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

Bookkeeping mainly concerns with which part of accounting process?

Auditing is what?

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

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

About the author

Muhammad Arslan

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

Identify the correct sequence of accounting process

_________ is the first phase of accounting cycle?

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

In accounting an Economic event is referred to as:

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

Bookkeeping mainly concerns with which part of accounting process?

Auditing is what?

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

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

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About the author

Muhammad Arslan