ACCOUNTING 101
Quiz
•
Professional Development
•
11th Grade
•
Practice Problem
•
Medium
Joanne Marie Biso
Used 17+ times
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16 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
It is a system that identifies, records, and communicates relevant economic events to interested users.
Communication
Recording
Information
Accounting
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is considered the father of modern accounting?
Aristotle
Luca Pacioli
Augustus
Suetonius
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which nature of accounting best emphasizes that accounting is not the objective?
Accounting is an art
Accounting is a means and not an end
Accounting is a process
Accounting deals with financial information and transactions
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following does NOT show one of the main functions of accounting?
Preparation of a report to be submitted to the taxing authorities.
Recording the purchase of an equipment in the accounting books immediately
Preparation of financial reports monthly for the company's stakeholders
Canvassing the price of a sewing machine to be used in the company's operations
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is the person responsible for the process of identifying, recording, and communicating the economic events of an organization?
Manager
Accountant
Bookkeeper
Treasurer
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is the person responsible for the process of identifying, recording, and communicating the economic events of an organization?
Manager
Accountant
Bookkeeper
Treasurer
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The chief accountant is preparing for a meeting with the top management. This meeting is done monthly to evaluate the performance of the company.
Which step of the accounting process is most likely being done?
Recording
Identification
Communication
Classification
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