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Purpose of accounting

Authored by Saba Darr

Social Studies

9th - 12th Grade

Used 11+ times

Purpose of accounting
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11 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is accounting?

Recording money coming in to a business

Recording money coming out of a business

Recording money coming in and out of a business

Recording a bank account

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What job can a person have in accounting?

Nurse

Teacher

Accountant

Chef

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

A receipt is an example of how a business can record transactions

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is money coming IN to a business?

Income

Expenditure

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is money going OUT of a business?

Income

Expenditure

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is compliance?

When a business gives correct information about money coming in and out of a business

When a business does NOT give correct information about money coming in and out of a business

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens if a business does not give the correct financial information?

Pay a big fine

The accountant may go to jail

The business may close

All of the above

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