TOPIC 1 INTRODUCTION TO ACCOUNTING

TOPIC 1 INTRODUCTION TO ACCOUNTING

University

15 Qs

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TOPIC 1 INTRODUCTION TO ACCOUNTING

TOPIC 1 INTRODUCTION TO ACCOUNTING

Assessment

Quiz

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University

Practice Problem

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Created by

iliza misnan

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15 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The following users are the internal users of accounting except

Creditors

Managers

Employees

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which types of business organisation has a separate legal entity from its owners and the owners are not liable for the debts of the business?

Sole proprietorship

Partnership

Limited company

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Bookkeeping is different from accounting. Which part of the accounting process does bookkeeping primarily involve?

Classifying

Recording

Interpreting

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of business organisation has the following characteristics?

Conduct business separately from its owners

is a taxable entity

the owners have limited liability

Sole proprietorship

Partnership

Company

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A supplier can be a company or an individual that

provides goods and services used by the business

owns shares of the business

gives loans to the business to help finance its activities

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which below is correct accounting cycle?

Journal, financial statements, posting to ledgers and trial balance

posting to ledgers, trial balance, financial statements and journal.

journal, posting to ledgers, trial balance and financial statements.

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the main role of an accountant?

Ensuring the business is making profit

Recording, summarizing and presenting financial information.

Preparing budgets and business plans

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