Accounting Quiz 07

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

Government agencies

Managers

Creditors

investors

Correct! Wrong!

Bookkeeping mainly concerns with which part of accounting process?

Analyzing

Auditing the books of accounts

Recording financial information

Preparing financial statements

Correct! Wrong!

Auditing is what?

Examination of financial statements

Maintaining the ledger records

Reporting the financial information

Preparation financial statements

Correct! Wrong!

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

Grouping

Recording

Processing

Summarizing

Correct! Wrong!

Identify the correct sequence of accounting process

Identifying→recording→communicating

Communicating→Recording→Identifying

Identifying→communicating→recording

Recording→Communicating→Identifying

Correct! Wrong!

_________ is the first phase of accounting cycle?

Identifying an economic event or transaction

Preparing journals

Making decisions about business

Posting entries to ledger accounts

Correct! Wrong!

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

Manager of the business

Creditor of the business

Controller of the business

CEO of the business

Correct! Wrong!

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

Shareholder of the business

Creditor of the business

Manager of the business

Government agency

Correct! Wrong!

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

Identification of economic event

Communication of financial information

Recording financial information

Making decisions about business

Correct! Wrong!

In accounting an Economic event is referred to as:

Bank statement

Cash

Exchange of money

Transaction

Correct! Wrong!

Accounting Quiz 07

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Accounting Quiz 07

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?

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

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?

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?

In accounting an Economic event is referred to as:

About the author

Muhammad Arslan

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?

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

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?

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?

In accounting an Economic event is referred to as:

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About the author

Muhammad Arslan