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Authored by Dennis Legaspi
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40 questions
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1.
MULTIPLE SELECT QUESTION
20 sec • 1 pt
Owners of business firms are the only people who need accounting information.
True
False
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Transactions that can be measured in dollars and cents are recorded in the financial information system.
True
False
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The hiring of a new company president is an economic event recorded by the financial information system
True
False
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Management of a business enterprise is the major external user of information.
True
False
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Accounting communicates financial information about a business enterprise to both internal and external users.
True
False
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Accounting information is used only by external users with a financial interest in a business enterprise.
True
False
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Financial statements are the major means of communicating accounting information to interested parties
True
False
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