FUND OF ACCTING 1

FUND OF ACCTING 1

Professional Development

12 Qs

quiz-placeholder

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FUND OF ACCTING 1

FUND OF ACCTING 1

Assessment

Quiz

Business

Professional Development

Practice Problem

Easy

Created by

y osa

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12 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Investors

Ability of business to pay dividends

To buy, hold or sell shares

Risk associated with the capital invested

external users

2.

MULTIPLE SELECT QUESTION

5 mins • 1 pt

accounting is

is a service activity. Its function is to provide quantitative information primarily financial in nature, about economic entities that is intended to be useful in making economic decisions (SFAS 1)

the process of identifying, measuring, and communicating economic information to permit informed judgements and decisions by users of the information (AAA)

the art of recording, classifying, and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of a financial character, and interpreting the results thereof. (AICPA)

none of the above

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

External users

Make decisions concerning their relationship to the business.

Make decisions directly affecting the internal operations of the business

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Internal Users

Make decisions directly affecting the internal operations of the business

Make decisions concerning their relationship to the business.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Employees

Ability of the business to pay remuneration, retirement, employment opportunities

Ability of business to pay dividends

Ability of business to pay dividends

Risk associated with the capital invested

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

 

Lenders

Ability of the business to pay for loans as well as interest

Ability of the business to pay remuneration, retirement, employment opportunities

Ability of business to pay dividends

Risk associated with the capital invested

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Suppliers & Other Trade Creditors

Ability of the business to pay for the items purchased

 

Pay taxes

Regulate the activities of the business

Ability of the business to maintain the products and services required

 

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