Accounting in Action

Accounting in Action

University

35 Qs

quiz-placeholder

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Accounting in Action

Accounting in Action

Assessment

Quiz

Business

University

Practice Problem

Hard

Created by

Ana Fitria

Used 10+ times

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35 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The three steps in the accounting process are identification, recording, and communication

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Bookkeeping encompasses all steps in the accounting process.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Accountants prepare, but do not interpret, financial reports.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The two most common types of external users are investors and company officers

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Managerial accounting activities focus on reports for internal users.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a step in the accounting process?

Identification

Economic entity

Recording

Communication

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

below are current assets, except

cash

supplies

equipment

account receivable

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