PRE TEST FINANCE AND ACCOUNTING FOR MINING MMS GROUP

An accounting information system is a system consisting of interrelated manual and computer parts, using processes such as collecting, recording, summarizing, analyzing, and managing data to provide information to users.

• False

• True

Accounting information produce from accounting information system that management use to make a decision making is ;

• Financial accounting

• Management accounting

• Accounting Information

• Budgeting information

Financial accounting produce information for external users ;

• Investors

• Governments

• Creditors

• Customers

The cost management information system has three broad objectives that provide information for--

• Costing out services, products, and other objects of interest to management

• Planning and control

• Decision making

• Reporting to external users

Cost is the cash or cash equivalent value sacrificed for goods and services that are expected to bring a current or future benefit to the organization.

• False

• True

IFRS (International Financial Reporting Standard) which aims to make financial statements of mining companies is....

• IFRS 5

• IFRS 32

• IFRS 6

• IFRS 10

Depreciation Method which results in an equal annual depreciation expense over the asset’s useful life is…

• The straight-line method

• the units of production method

  
  

• The Dimishing balanced method

• the year digit sum method

IAS 16 (International Accounting Standards) use for depreciating property, plant and equipment in the mining industry.

• True

• False

Controlling is one of the management process that define as managerial activity of monitoring a plan’s implementation and taking corrective action as needed.

• True

• False

Controlling is one of the management process that define as managerial activity of monitoring a plan’s implementation and taking corrective action as needed.

• True

• False