BT - Ch-8 History and Role of Accounting

The financial manager is Responsible for ...................... And ........................ Of a Company.

• Banking and Cash

• Raising funds and Controlling financial

• Purchases and production

• Data and reports

When Auditors are agree with the Financial Statement prepaid by the Company they issue a.................... Report

• Uncorrected Report

• Qualified Report

• Management attention report

• Unqualified Report

Internal Auditors are ............................... Of the company.

• Cops

• Non Executive Directors

• Financial advisors

• Employees.

Internal Auditors report on the effectiveness of .................................system.

• Security

• Internal control

• Legal

• External credit Control

................................... Are required by law to prepare and publish accounts annually.

• Sole proprietorship

• Partnership

• Limited Companies

• Everyone who do trade.

…………………………….is a way of recording, analyzing and summarizing transactions of a business.

• Accounting

• Auditing

• Statistics

• Corporate Reporting

The Transaction are recorded in …………………..

• Book of Credit Entry

• General Record book

• Book of Prime Entry

• Cash book

Transaction are analyzed and posted in Inventory ledger

• True

• False

Final Transitions are Summarized in the ……………………

• Bank statement

• Financial Statement

• Profit and loss Account

• Purchase Register

Accounts are produce to aid management in planning, control and Decision making, and to comply with statutory Regulation.

• True

• False