GROUP-6 "ABM Insight Challenge"

Who is the Father of Accounting?

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Preparation of trial balance, determination of adjusting entries, and preparation of financial statements are done in:

• A. Recording

• B. Classifying

• C. Summarizing

• D. Interpreting

It is the level of management that has example of chief executive and managing director?

• A. Middle Level Management

• B. Management function

• C. Lower Level Management

• D. Top Level Management

Who is the father of Scientific Management?

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Which level of management is responsible for implementing the strategies and policies set by top-level management?

• A. Middle Level Management

• B. Lower Level Management

• C. Top Level Management

• D. Front-line Management

Which management function is exemplified by the chief executive and managing director?

• A. Planning

• B. Organizing

• C. Directing

• D. Controlling

What is the final step in the accounting process?

• A. Recording

• B. Classifying

• C. Summarizing

• D. Analyzing

What is the primary function of top-level management?

• A. Planning

• B. Organizing

• C. Directing

• D. Controlling

What is the primary function of middle-level management?

• A. Planning

• B. Organizing

• C. Directing

• D. Controlling

What is the purpose of preparing a trial balance in accounting?

• A. To record financial transactions

• B. To summarize financial data

• C. To identify errors in the ledger

• D. To interpret financial statements