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BE Unit 4.00 EOC Review

Authored by Lauren Ashe

Business

9th - 12th Grade

Used 4+ times

BE Unit 4.00 EOC Review
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60 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The process of keeping the financial records of a business is known as

accounting

financing

controlling

bookkeeping

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The overall purpose of accounting is to

maintain accurate reports

compile the business’s expenses

keep track of sales

control the finances of the business.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why are accurate accounting records important to a business?

They prevent any financial losses

They show the business how it is doing

They increase the return on investments

They give the business an image of success

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following groups makes regular use of a business’s managerial accounting information:

Managers

Customers

Creditors

Investors

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A creditor is most likely to examine a business’s financial accounting records if the business is

applying for a bank loan

selecting a new market

using cash accounting

complying with regulations.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Riley is an employee of the federal government who studies the financial reports of major businesses in a specific industry. The government’s purpose in assigning this task to Riley is to

verify compliance with laws

calculate the businesses’ income taxes

analyze employment statistics

identify trends in the industry

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For an accounting system to be useful to the business, the accounting information it contains must be

accurate and up to date

approved by the chief executive officer.

posted by an accountant.

recorded using the accrual method

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