QUIZ 1 - FUNDAMENTALS OF ACCOUNTING

How many process involved in bookkeeping ?

• 2

• 3

• 4

• 5

Bookkeeping differs from accounting in which part of process ?

• Classifying

• Interpreting

• Sumamrizing

• Recording

The process of accounting can be described as :

• Classifying, recording, summarizing, analyzing and interpreting

• Interpreting, classifying, analyzing, summarizing and recording

• Analyzing, classifying, interpreting, recording and summarizing

• Recording, classifying, analyzing, summarizing and interpreting

Data from business documents are arranged and categorized. This is best to describe :

• classfying

• summarizing

• recording

• interpreting

Identify which of the following is the role of an accountant ?

• Manage and run the business.

• Supplying goods or services to earn profit.

• To ensure salary increments.

• Designing and controlling systems of financial records.

Which of the following is the internal user of accounting information ?

• Suppliers

• Government

• Finance department

• Employee Union

Below are the external user of accounting information EXCEPT?

• Creditor

• Lembaga Hasil Dalam Negeri

• Shareholders

• Analysts

A partnership is a/an ______________

• Enterprise formed by two or more persons with no maximum limit

• Business entity owned and managed by only one person

• Enterprise formed by two or more persons with a maximum of fifty

• Business formed by two or more person with a maximum of twenty

A(n) _________ has at least two owners.

• Sole Proprietorship

• Partnership

• Company

• Limited company

Which is NOT a basic type of business ownership?

• Sole proprietorship

• Partnership

• Company

• Retail