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Financial Accounting quiz 1

Authored by Navneet Joshi

Business

University

Used 13+ times

Financial Accounting quiz 1
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31 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What is accounting?

It is a process to record financial transactions

It is a process to record project execution

It is a process to record the day to day activities in software project

All of the above

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

what is financial accounting ?

It is a process to record financial transactions

It is a process to record project execution

It is a process to record the day to day activities in software project

All of the above

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Financial Accounting is an ...

Art of .....

Science of ....

Commerce

Art & science of ......

None of the above

4.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Balance sheet is an example of....

Classifying

Summarizing

Recording

Interpreting

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Professionals/ Businessmen need accounting because ......

Projects are complicated and accounting helps them to keep track

Projects will become directionless if there is no accounting

Projects consume resources and accounting helps them to keep track

All of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is correct?

Accounting helps in tracking the costs pertaining to IT software project execution

Accounting helps in recording financial transactions

Accounting interprets the financial data

Accounting helps in the allocation of resources

all of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

1. What is a ledger?

A record of summarized transactions

A record of classified transactions

Only a is true

Only b is true

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