RUTS Accountancy
Authored by Erica Westgate
English, Professional Development, Business
9th Grade - University
Used 31+ times
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55 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The systematic process of keeping or maintaining financial records and transactions for a business..
Accounting
Accountancy
Accountant
Bookkeeper
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The practice of measuring, classifying, verifying, summarizing, interpreting and reporting on business transactions for a business to reveal profit or loss, a firm's assets, liabilities and owners' equity.
Accounting
Accountancy
Accountant
Bookkeeper
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Accounting process starts with.....
Identification of financial transactions
Posting into ledger
Recording in Journal
Summarising of financial transactions
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The process of recording transactions is also called?
Summarising
Reporting
Posting
Journalising
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
A __________________ statement shows the profitability of the business
Cash flow
Profitability
Financial Position
Profit or Loss
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
A person to whom money is owed by a firm for purchase of goods or services is called
The Debtor
The Creditor
The Drawer
None of these
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
A person who owes money to a firm against goods bought or services received is called
The Debtor
The Creditor
The Drawer
None of these
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