Public sector accouting - Topic 1

Followings are the factors that lead to creation of double-entry EXCEPT

• Private property & capital

• Commerce & credit

• Money & Aritmetic

• money & power

What are the most significant factors that lead to double entry creation?

• Writing and arithmetic

• listening and drawing

• visualising and creating

• none of it

Accounting roots history existed as early as _________.

• 7,000 B.C

• 7250 B.C

• 7,500 B.C

• 7750 B.C

Which place made book keeping as requirement for a business?

• China

• Rome

• Italy

• Argentina

All of the statements are correct EXCEPT

• Luca Pacioli is the father of book keeping

• Luca Pacioli wrote a book on the double entry system based on his common practices of business

• Luca Pacioli is a famous businessman come writer

• double entry system created by Luca Pacioli fall into criticism as time progressed.

What was the major factor that caused the double-entry system to evolved in the 17th century?

• development in businesses

• industrial revolution

• increase in complex business structures

• increased in capital investment and dividend distribution

What are the similarities between Eqypt, Chinese, Greek, and Babylonian civilizations?

• The emergence of complex business trade and agriculture

• Industrial revolutions initiated

• double entry was widely used

• the first requirement for bookkeeping was introduced