Accounting

Accounting

University

50 Qs

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Accounting

Accounting

Assessment

Quiz

Business

University

Practice Problem

Medium

Created by

Jeo Huminis

Used 9+ times

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50 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

It is the process of systematically recording the financial transactions of a business.

Bookkeeping

Accounting

Financial Statement

Income

None of the above

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

It is the systematic recording, reporting, and analyzing of financial transactions of a business.

Income

Bookkeeping

Accounting

Financial Statements

None of the Above

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The record of each transaction is carried to either the debit or credit column of a single account.

Bookkeeping

Double Entry Bookkeeping

Single Entry Bookkeeping

Accounting

All of the above

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Refers to accounting for revenues, expenses, assets and liabilities.

Cost Accounting

Financial Accounting

Management Accounting

Auditing

All of the Above

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The branch of accounting dealing with the recording, classification, allocation, and reporting of current and prospective costs.

Auditing

Management Accounting

Financial Accounting

Cost Accounting

None of the Above

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The branch of accounting designed to provide information to various management levels in the business operation for purpose of enhancing controls.

Financial Accounting

Cost Accounting

Auditing

Management Accounting

None of the Above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The examination made on the financial reports to ensure its fairness, reliability, and compliance with the set of accounting procedures and standards.

Cost Management

Accounting

Auditing

Management Accounting

None of the Above

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