
Topic 1 - Introduction to Account
Authored by Aina Farhana
Education
1st Grade
Used 7+ times

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13 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This is the meaning of accounting, except
Recording
Classifying
Interpreting
Transaction
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The purpose of recording and analyzing the accounting information are, except
to know the financial status of the organization whether the business is making profit or running at a loss and what are the corrective actions to be taken
sorting out the mass of accounting data into orderly & meaningful categories
If the transactions were being recorded, it would be easier to refer
If there are no proper records, the financial statements would be misleading.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
“the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events, which are, in part at least, of a financial character and interpreting the results thereof”
Accounting Standards Council
AICPA Committee on Accounting Technology
American Accounting Associationv
Board of Accountancy
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the "recording" component in the definition of accounting?
Where preriodically the accounting data are summarized
Which involves sorting out the mass of accounting data into orderly & meaningful categories
Where transactions are recorded in the books of the business
Where the financial data are analyzed & used to assist in more effective decision making.
5.
FILL IN THE BLANK QUESTION
1 min • 1 pt
List down TWO (2) important of Financial Accounting.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Identifying, Classifying, Recording and Summarizing
Accounting
Bookkeeping
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Identifying, Classifying, Recording, Summarizing, Interpreting and Communicating
Bookkeeping
Accounting
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