Bookkeeping and Introduction to Accounting

Which of the options below is the correct definition of bookkeeping?

• (A) Promoting a product or service.

• (B) Exchanging a service for money.

• (C) The process of recording, in the books of accounts, business transactions and managing those records.

• (D) The difference between the amount earned and the amount spent in buying.

The aim of every business is to?

• (A) Provide housing for its clients.

• (B) Earn a profit.

• (C) Exchange money for advertisement.

• (D) Have a board of directors.

Money paid to the government through income and sales is?

(D) Human Resource

• (A) Taxes

• (B) Goods

• (C) Scarcity

• (D) Human Resource

Expenditure is?

• (A) The money we earn.

• (B) The money we save.

• (C) The money we get as gift.

• (D) The money we spend.

Paying the electricity and telephone bill for a business is a/an?

(A) Asset.

(B) Expenditure.

(C) Profit.

(D) Translation.

• (A) Asset

• (B) Expenditure

• (C) Profit

• (D) Translation

The art of spreading marketing information through various media such as billboards, television, radio and social media is?

• (A) Publishing

• (B) Designing

• (C) Politics

• (D) Advertising.

Paper Newspapers and paper magazines are examples of?

(A) Electronic Advertising.

(B) Billboard Advertising.

(C) Print Advertising.

(D) Television Advertising.

• (A) Electronic Advertising

• (B) Billboard Advertising

• (C) Print Advertising

• (D) Television Advertising

An example of outdoor advertising is?

• (A) Internet Advertising

• (B) Billboard Advertising

• C) Newspaper Advertising

• (D) Television Advertising

Classify means to?

• (A) Put into groups.

• (B) Scramble.

• (C) Assemble.

• (D) Disorganize.

Budgeting is?

• (A) Arranging in order of size.

• (B) An agreement between a buyer and a seller.

• (C) An itemized estimate of expected income and expense for a given period in the future.

• (D) A running total of how much cash you

  have in hand.