Bookkeeping

1. What is the art of recording, classifying, summarizing financial transactions of a business enterprise and interpret the result thereof?

• A. Accounting

• B. Bookkeeping

• C. Journalizing

• D. Recording

2. What is the recording of the financial transactions of a business in a chronological and systematic manner?

• A. Accounting

• B. Bookkeeping

• C. Posting

• D. Reporting

3. Which of the following is a task of the accountant?

• A. Archives and stores for easy retrieval

• B. Prepares and provides on-going report

• C. Classifies and records transactions accurately

• D. Prepares tax reports and represents you to tax authorities

4. Which of the following is a task of the bookkeeper?

• A. Prepares and provides on going report

• B. Focus on the analysis of financial data

• C. Provides overview of bookkeeping process

• D. Assist with key financial planning decisions

5. During middle ages period, a more formal method of account-keeping method was developed by ______________.

• A. bankers

• B. merchant

• C. merchant and bankers

• D. none of the above

6. What year does an Italian friar, the father of accounting published his famous book “Summa de Arithmetica, Geometria, Proportioni et Proportionalita”.

• A. 1944

• B. 1494

• C. 1449

• D. 1949

7. Among are the task of the bookkeeper except _______________.

• A. Prepares and provides on going report

• B. Focus on the analysis of financial data

• C. Archives and stores data for easy retrieval

• D. Classifies and records transactions accurately

8. Who is a person whose job is to keep records of the financial affairs of a business.?

• A. Accountant

• B. Bookkeeper

• C. Marketer

• D. Seller

9. Who is the father of bookkeeping and accounting?

• A. Lucas

• B. Luca Bartolome Pacioli

• C. Luca Bartolomi Pacioli

• D. Lucas Bartolomes Pacholi

10. What is a professional who renders professional service for a fee and who is trained to interpret the data?

• A. Accountant

• B. Bookkeeper

• C. Seller

• D. Marketer