Basic Accounting - Theories

Quiz
•
Business
•
12th Grade
•
Medium

Hannah Lucillo
Used 45+ times
FREE Resource
13 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Accounting is a system that allows businesses to trace its financial activities and _______ results.
classify
evaluate
summarize
identify
2.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
According to American Accounting
Association (AAA), accounting is a A service activity. Its function is to provide quantitative information, primarily financial in nature, about economic entities, that us intended to be useful in making economic decision.
True
False
3.
FILL IN THE BLANK QUESTION
20 sec • 1 pt
He became a prominent person in accounting history due to writing a book that introduced and disseminated the double-entry bookkeeping.
4.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Accounting is as old as civilization and has evolved in response to economic and social needs of men.
True
False
5.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
What does the acronym - C P A mean?
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In this branch of public accounting, the accountant is expected to be knowledgeable about revenue regulations. He or she also represents the client in any tax-related case filed by the Bureau of Internal Revenue (BIR).
Financial Accounting
Cost Accounting
Management and Advisory Services
Tax Preparation and Planning Service
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
External auditing is performed by someone ________ the business.
inside
outside
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