FINANCIAL ACCOUNTUNG

FINANCIAL ACCOUNTUNG

1st - 5th Grade

26 Qs

quiz-placeholder

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FINANCIAL ACCOUNTUNG

FINANCIAL ACCOUNTUNG

Assessment

Quiz

Fun

1st - 5th Grade

Practice Problem

Hard

Created by

Anton Kacaribu

Used 8+ times

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26 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

The Three steps in the accounting process are identification, recording, and communicarion

True

False

2.

MULTIPLE CHOICE QUESTION

5 sec • 1 pt

Bookkeeping encompasses all steps in the accounting process

True

False

3.

MULTIPLE CHOICE QUESTION

5 sec • 1 pt

Accountants prepare, but do not interpret, financial reports

True

False

4.

MULTIPLE CHOICE QUESTION

5 sec • 1 pt

The two most common types of external users are investors and company officers

True

False

5.

MULTIPLE CHOICE QUESTION

5 sec • 1 pt

Managerial accounting activities focus on reports for internal users

True

False

6.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

During 2019, Bruske Company's asset decreased $50.000 and its liabilities decreased $50.000. Its owner's equity therefore

A. Increased $50.000

B.Decreased $50.000

C. Decreased $100.000

D. Did not change

7.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Net Income will result during a time period when

Asset exceed liabilities

Asset exceed revenue

Expenses exceed revenue

Revenue exceed expenses

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