Meena quiz

Which of the following activities is a business transaction that is not financial in nature?

Select one:

• Statement of Cash Flows

• Borrowing money from a bank

• Purchase of Merchandise

• Hiring of Staff

Accounting being regarded as the performance of specific actions such as identifying, measuring, and communicating financial information is through the nature of accounting as ___________.

• a skill

• a process

• a service activity

• an art

Accounting is the language of ______

• Individual

• society

• Economy

• Business

____ is the fundamental system of Accounting

• Merchantile system

• Cash system

• Double Entry System

• Single Entry System

Which of the following is not part of the accounting process?

• Recording

• Identifying

• Financial decision making

• Communicating