Accounting in Action

Quiz
•
Business
•
University
•
Hard
Ana Fitria
Used 10+ times
FREE Resource
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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