Introduction to Accounting and Accounting Ethics and Concepts

Which of the following is not part of accounting

• Summarizing data

• Recording transactions

• Interpreting Financial Statements

• Sharing accounting data with other businesses

Which of the following allows a business to be successful?

• Making a loss

• Making a profit

• Making constant profit

• Making constant loss

What is book-keeping?

A person who uses accounting information that is not part of the business is known as...

(a)  

The name of a person who has interest in your business and is willing to put their money as contribution to your business with a hope of making a return is called ...

(a)  

A business where there is one owner is known as a

• Partnership

• Company

• Sole Trader

• Entrepreneur

Which of the following jobs can be obtained without an accounting degree or qualification?

• Bank Clerk

• Accounts assistant

• Book-keeper

• Consultant

What is the difference between ethics and professional ethics

Which of the following are fundamental principles of ethical behavior?

• Integrity

• Objectivity

• Fraud

• Subjectivity

What is the difference between being objective and subjective?