Basic requirements for accounting organization?

A. Accounting organization must be suitable with production method, management level and business operation characteristics.

B. Accounting organization must be suitable with management requirements, managerial level and technical equipment in enterprises.

C. Accounting organization must be economical and efficiency.

Which below statement describe the definition of accounting vouchers?

All of above-mentioned statements

Accounting vouchers can be seen as a means of information.

Accounting vouchers are legal documents to prove for occurred and completed business transactions of one enterprise

Accounting vouchers are the basis of bookkeeping process

According to the Vietnamese accounting laws, a voucher must contain following elements

Voucher title and code of vouchers; Date; Name and address of person/entity who creates these vouchers; Name and address of person entity who receives vouchers; Content of vouchers; Quantity, unit price and total value; Signatures and full name of involved persons

Voucher title and code of vouchers; Date; Name and address of person/entity who creates these vouchers

Voucher title and code of vouchers; Date;Name and address of person/entity who creates these vouchers; Name and address of person/entity who receives vouchers.

Voucher title and code of vouchers; Date; Name and address of person/entity who creates these vouchers; Name and address of person/entity who receives vouchers; Content of vouchers; Quantity, unit price and total value

Regarding to accounting vouchers classification, optional vouchers have following characteristics

Optional vouchers are used internally. The state only gives instruction on several content recorded these vouchers for enterprises to follow due to their own business

Optional vouchers are used internally only.

Optional vouchers are used commonly and widely by different entities in the economy.

Optional vouchers are standardized by the State in respect of type, form, content recorded, target and set-up method of these accounting vouchers.

Accounting vouchers form

A. Both paper form and electric form

Which below accounting vouchers should be classified as source vouchers?

V AT invoices, advance requests, payment requests, bank statements

VAT invoices, bills, goods receipt notes, cash receipts, cash payment

Advance request, cash payment, goods receipt notes, VAT invoices

A. Goods receipt notes, goods delivery notes, credit notes/ debit notes issued by bank

Which below accounting vouchers should be classified as bookkeeping vouchers?

Goods receipt notes, goods delivery notes, cash receipt notes, cash payment notes

AT invoices, hills, goode receipt notes, cash receipts, cash payme

VAT mvoices, advance requests, payment requests, credit notes/debi notes issued by banks

Advance request, cash payment, goods receipt notes, VAT invoices.

Application of accounting vouchers system in enterprises must be based on

The state's regulations on accounting vouchers.

Business operating characteristics of an enterprise.

Management requirements of an enterprise

In respect of business transaction nature, accounting vouchers are divided into:

5 categories, including: Labor vouchers, inventory vouchers, sales vouchers, monetary vouchers, and tangible fixed assets vouchers

4 categories, including: Labor vouchers, inventory, vouchers, sales vouchers, monetary vouchers

4 categories, including: Labor vouchers, inventory vouchers, sales vouchers, tangible fixed assets vouchers

4 categories, including: Labor vouchers, sales vouchers, monetary

Which steps are included in organization of accounting voucher system in a enterprise:

Set up a list of accounting vouchers, content of accounting voucher, voucher form

Determination on issuance of vouchers and voucher checking

Set up the voucher rotation process and storage of vouchers

Which below vouchers are direct vouchers in respect of collecting data on cash transactions

A. Cash receipt notes, cash payment notes.

A. Cash receipt notes, payment request.

A. Loan contract, cash receipt notes.

A. Application for advance, cash payment notes.

Which below vouchers are relating vouchers in respect of collecting data on cash transactions

Loan contract, application for advance, payment request(accreditative), cash receiving slip

Cash receipt notes, payment request.

Cash receipt notes, cash payment notes.

Application for advance, cash payment notes

Which below statement is correct regarding the basis of purchased goods receipt notes?

Purchased goods receipt note should be issued as good has been imported into the warehouse

Purchased goods receipt note should be issued as an enterprise signs in the contract with supplier

Purchased goods receipt note should be issued as supplier accepts enterprise good’s order

Which below departments/persons should be involved in the voucher rotation process for cash at bank:

Serving bank, banking accountant, and related accountant

Stock keeper, chief accountant, Banking accountant

Banking accountant, chief accountant, inventory accountant

Serving bank, chief accountant, cashier

Which below departments/persons should be involved in the voucher rotation process for cash withdrawal from bank (cash fund increment)?

Banking accountant, chief accountant/account holder, bank, cash recipient, cash accountant, cashier

Banking accountant, bank, cash recipient, cash accountant

Banking accountant, customer, cash recipient, cash accountant, casheir

Banking accountant, chief accountant, cash , supplier. cashier

Which below vouchers are direct vouchers in respect of collecting data on inventory transactions?

Goods delivery notes, goods receipt notes

Internal goods, delivery notes, inventory acceptance minutes

Inventory report, inventory stock records, stock card

Which below vouchers are relating vouchers in respect of collecting date on inventory transactions?

VAT invoices, bills, debit notes, credit notes, cash payment notes, cash receipt notes

Goods delivery notes, goods receipt notes

Internal goods, delivery notes, inventory acceptance minutes

Which below departments/persons should be involved in the rotation process for finished goods/outsourced goods receipt?

Production department, stock keeper, inventory accountant, production cost accountant and other related accountants

Production department, fixed assets accountant, production cost accountant and other related accountants

Sales accountant, stock keeper, inventory accountant, and other related accountants

A. Supplier, inventory accountant, production cost and other accountants

Which below departments/persons should be involved in the voucher rotation process for product/goods delivery?

Sales department, customer (buyer), stock keeper, inventory accountant, related accountants

Serving bank, stock keeper, inventory accountant, related accountants

Sales department, supplier (seller), inventory accountant, related accountants

A. Sales department, supplier (seller), chief accountant, inventory accountant

Which of the following is NOT the requirement of accounting book system in an accounting entity?

Accounting book system should ensure the effectiveness of accounting voucher rotation

Accounting book system must ensure the relationship between chronological order and systematic order of book-recording

Accounting book system should ensure the relationship between general ledgers and sub-ledgers

Accounting book system should ensure the procedures of data cross- checking and controlling

What is the structure of an adjusting account for an asset account?

Downward adjusted value on the debit side and upward adjusted value on the credit side

Upward adjusted value on the debit side and downward adjusted value on the credit side

Only posting downward adjusted value on the debit side

Only posting upward adjusted value on the debit side

What is the determinant for the number of General Ledgers in an accounting book system

The number of accounting general accounts

The number of accounting vouchers

The number of accounting sub-accounts

Which of the following statements about the valuation of inventory are correct, according to VAS 2 inventories? (1) Inventory items are normally to be valued at the lower of cost and net realizable value (2) The cost of goods manufactured by an entity will include materials and labour only. Overhead costs cannot be included. (3) Selling price less estimated profit margin may be used to arrive at cost if this gives a reasonable approximation to actual cost.

None of the statement are correct

Which of the following is NOT about processing and systematization of accounting information?

Application of Value measurement

Organization of accounting books system

Accounting objects that need valuing are:

A. Assets, liabilities, owners' equities, revenue, other income, expenses and business performance results

C. Assets, liabilities, owners' equities

D. Revenue, other income, expenses and business performance results.

In Vietnam, an accounting entity shall establish its chart os accountants based on:

D. Either Accounting regulation for enterprises (Circular No 200/2014/TT-BTC) or Accounting regulation for SMEs (Circular No 133/2016/TT-BTC)

A. Accounting regulation for enterprises (Circular no 200/2012/TT-BTC)

B. Book recording method of chronological order and systematic order

C. The level of business equipment

In Vietnam, Trade payable account has:

A. Either a debit or a credit balance

A. A zero balance/ No ending balance

Accounting books are used for:

Recording and keeping track of accounting information

Collecting and systematizing accounting information on the task business management.

Providing accounting information for users

In General Journal Voucher accounting form, the informations from General journal vouchers are transferred to:

B. General Ledgers of related accounts

Who are the users of accounting information?

A. Administrators within the enterprises

A. The State's functional management agencies

A. User having interests directly and indirectly

Which of the following report is NOT classified as a management accounting report?

Increase or decrease in fixed assets report

Accounts receivable and account payable report.

Based on the basis of reporting accounting reports in enterprises are classified into which of the following?

Performance accounting reports and Predictive recast) amning report

Financial accounting reports and Management accounting reports

Periodic accounting reports and Regular accounting reports

Which of the following principles must be followed when preparing financial statement?

A. Going concern, Accrual basis, Consistency, Materiality and aggregation and Offsetting

B. Going concern, Accrual basis, Consistency, Materiality and aggregation

C. Accrual basis, Consistency, Materiality and aggregation and Offsetting

D. Going concern, Accrual basis, Consistency

According to the current accounting regime, the financial accounting reporting system applicable to enterprises includes which of the following reports?

A. Annual financial statements and Interim financial statements

A. Interim financial statements

Which of the following are included in the content of a Statement of Cash Flow?

D. Cash flows from operating activities, Cash flows from investing activities, and Cash flows from financing activities

A. Cash flows from operating activities and Cash flows from investing activities

B. Cash flows from investing activities and Cash flows from financing activities

C. Cash flows from operating activities and Cash flows from financing activities

Which of the following methods are commonly used to analyze accounting information?

C. Comparison method and Factor analysis method

The financial statements of an enterprise provide information about which of the following?

Revenue, Other income, Expenses, Profit and Loss

Which of the following does NOT describe characteristic of centralized accounting organization

B. Subordinate units might be entitled to set up their own accounting departments

Central accounting department is in charge of all accounting tasks

C. Accounting records are kept and retained at the central accounting department

D. This form enables quick implementation of accounting practices or standardized procedures

Which of the following describes the characteristics of decentralized accounting organization

The central accounting department is responsible for guiding and inspecting the accounting work in the accounting departments at subordinate units

Central accounting department is in charge of all accounting tasks.

Subordinate units are divided into 2 groups: dependent units and independent units

This form is suitable for small and medium-sized enterprises with low hierarchy and do not operated in scattered areas

A is a state-owned company. A has 1 subsidiary called "B company" with independent accounting and 01 subordinate called "C company". Determine the form of accounting organization for the Group of A,B, C companies?

D. Decentralized form or semi-centralized form

Accounting inspection's missions include:

Examining the recruitment, hiring, training and retraining of accountants; Examining the implementation of the Accounting Law, standards, regimes and legal regulations on accounting

Checking the observance of production and business plans

Examining the organization of accounting apparatus

TCCTKR

Authored by Phương Phương

Business

University

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MULTIPLE CHOICE QUESTION

45 sec • 1 pt

According to the VAS No.1- General standards, fundamental accounting requirements for accounting information include

A. Faithfulness, Objectiveness, Adequacy, Timeliness, understandability, Comparability.

B. Faithfulness, Objectiveness, Adequacy,Timeliness, understandability, Comparability, Consistency.

C. Historical cost, Matching. Consistency, Prudence, Materiality.

D. Accruals basic, Continuous operation, Historical cost, Matching, Consistency, Prudence, Materiality.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

According to the VAS No.1- General standards, fundamental accounting principles are:

Historical cost, Matching, Consistency, Prudence, Materiality

Faithfulness, Objectiveness, Adequacy, Timeliness, understandability, Comparability

Accruals basic, Going concerns, Historical cost,Matching, Consistency, Prudence, Materiality

Faithfulness, Objectiveness, Adequacy, Timeliness, understandability, Comparability, Consistency.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which statement is the most appropriate regarding to basic content of accounting organization in enterprises:

Organization of collecting accounting information, Organization of systematizing and processing accounting information, Organization of providing accounting information, Organization of accounting apparatus.

Organization of collecting accounting information, Organization of systematizing and processing accounting information, Organization of preparing and submitting financial statements, Organization of accounting apparatus, Organization of inspecting accounting information

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Accounting period can be

Yearly

Yearly, quarterly,

Yearly, quarterly, monthly.

Weekly.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statement is correct regarding consistency principle:

Adopted accounting methods can be changed.

Adopted accounting methods can be changed if necessary.

Adopted accounting methods can be changed but a business must explain why this change is made and its influence over financial statements.

none of these above mentioned statements is correct

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which below statement is the most appropriate?

Revenues and incomes are recognized only when there is reasonable certainty of potential economic benefits, whereas expenses must be recognized when there is reasonable likelihood of potential occurrence

Revenues and expenses are only recognized when there is reasonable certainty of economic benefits inflow to or outflow from the entity.

Revenues and incomes are only recognized when there is potential economic benefits inflow, whereas expenses must be recognized when there is reasonable certainty of occurrence

Revenues and expenses can only be recognized when cash is collected or paid out.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which below statement is true?

A. Accounting policies and accounting methods applied are unchangeable.

B. Accounting policies and accounting methods must be applied consistently for at least 3 fiscal accounting periods.

C. Accounting policies and accounting methods must be applied consistently no longer than 5 consecutive fiscal accounting periods.

D. Accounting policies and accounting methods must be applied consistently for at least 1 fiscal accounting period.

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