Ch-3
Quiz
•
Other
•
11th Grade
•
Practice Problem
•
Hard
Mangla Sharma
Used 6+ times
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8 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Accounting involves only recording of:
Only non financial transactions
Financial transactions
Both 1 and 2
Personal transactons
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not the objective of accounting
To assist the management
To ascertain profit and loss
To provide information to various users
To measure business transactions in terms of money
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is the first step in accounting
Communicating information to the users
Analysing and Interpretiin of financial transaction
Identification of financial transactions
Summarising
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not a business transaction
Bought computer rs. 10,000 for business
Paid wages to workers rs. 5,000
Bought gift for son from personal savings
Paid for sons fee from business
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
External user of accounting information is
Management
Employees
Both 1 and 2
Owner
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following refer to the body of knowledge of accounting
Book keeping
Accountancy
Accounting
Both 1 and 2
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is true for accounting
Accounting is never influenced by personal judgements
Book keeping and accounting is one and the same thing
Accounting is only science and not art
Profit and loss account indicates financial performance
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