Accounting Quiz 1.01-1.02

What is the most common form of business ownership?

• Franchise

• Corporation

• Sole Proprietorship

• Partnership

What type of corporation combines the benefits of a partnership and a corporation?

• Shareholder

• Stakeholder

• Unlimited Liability

• Limited Liability Company

What is a form of business ownership in which 2 or more people jointly owns a business

• Partnership

• Corporations

• Franchise

• Sole Proprietorship

What is the name of a person who owns part of a corporation?

• Stakeholder

• CEO

• Shareholder

• Franchise

They keep up financial records in small or large businesses and their responsibilities include managing customer invoices, make sure vendor bills are paid promptly.

• Accounting Clerk

• Bookkeeper

• Payroll

• CPA

An employee of a company who is responsible for the management of sales, and relationship with particular customers. They manage the relationship with the client of the account(s) they are assigned to is called?

• Accountant

• Tax Accounting

• Accounting Manager

• Accounting Clerk

Is someone who records transactions in billing, purchasing, payroll, accounts payable, or accounts receivable in medium to large companies.

• Bookkeeper

• Accounting Clerk

• Accountant

• Tax Accounting

An accountant authorized to examine accounts and accounting records, compare the charges with the vouchers, verify balance sheet and income items, and state the result.

• Accountant

• CPA

• Accounting Manager

• Auditor

The process of recording, analyzing, classifying, summarizing communicating and interpreting financial information about government

• Auditor

• Managerial Accountant

• Government Accountant

• Forensic Accountant

Accountants that serve clients such as businesses (retailers, manufacturers, service companies, etc.), individuals, nonprofits and governments

• Private Accountant

• Accountant

• Public Accountant

• Government Accounting