Quiz1-lesson 1

it is a service activity that provides quantitative information which is financial in nature

• Bookkeeping

• Accounting

• Journalizing

• Selling

In the definition of Accounting, the transactions and events are expressed in

• Monetary value

• Qualitative nature

• Quantitative means

• None of the above

An information system may means as

• a manual system

• A computerized system

• A customized system designed to fit accounting

• All of the above

Analyzing and interpreting means

• Expressing it in a vertical analysis

• expressing in financial ratios

• expressing it in a horizontal analysis

• All of the above

The management reports that are generated by an organizations is solely for

• in-house reporting

• external reporting

• outside agencies reporting

• All of the above

Branch of Accounting that focuses on the preparation of financial statements

• Management Accounting

• Financial Accounting

• Auditing

• Accounting Education

This branch of accounting tells that the in-house information generated by the accountant for specific purposes will serve as benchmark to company's performance

• Management Accounting

• Financial Accounting

• Auditing

• Accounting Education

This branch of accounting focuses on the preparation of tax returns as required by the Bureau of Internal Revenue (BIR)

• Management Accounting

• Financial Accounting

• Tax Accounting

• Accounting Education

This is carried out by Certified Public Accountant in the public practice who should be accredited by the Board of Accountancy (BOA)

• External Auditing

• Internal Auditing

• Government Accounting

• Tax Accounting

This profession is carried out by Certified Public accountant in the academe

• External Auditing

• Internal Auditing

• Government Accounting

• Accounting Education