Introduction to Accounting

………………… is the process of identifying, recording and classifying, summarizing, analyzing and interpreting business transaction.

• Bookkeeping

• Accounting

• Transaction

• Financing

Bookkeeping differs from accounting. Which part of the accounting process is primarily involved in bookkeeping?

• Measurement

• Analyzing

• Communication

• Recording

What is the function of financial report to management in any organization?

• To make decision for company

• To supervise their workers

• To enable business ongoing basis

• To acquire additional capital

Which types of business offers share for sale to the public?

• Sole Proprietorship

• Partnership

• Public Limited Company

• Private Limited Company

What is the function of financial Accounting?

• To give an information about financial position of business

• To determine the amount of profit and loss

• To ensure salary increments and other benefit

• To know the ability of a company or business to repay debts

Which of the following is not the field of accounting?

• Management Accounting

• Financial Accounting

• Tax Accounting

• Principle Accounting

Which of the following are not the external users of accounting information?

• Management

• Banks

• Creditors

• Supplier

Which of the following is not the role of an accountant?

• manage and run the business

• comply with the accounting standard

• prepare financial reports

• communicate the financial information to stakeholders

Which of the following is not the internal user of financial information?

• Management of Finance

• Business Owner

• Management

• Potential investor

Which of the following would not be considered as the external users of accounting data?

• Malayan Banking Berhad

• Inland Revenue Board

• Potential investor

• Marketing Manager