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KTQT (1->55)

Authored by Vy Nguyễn

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KTQT (1->55)
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65 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Chapter 1 (23 câu) Câu 1.1: Which of the following is the advantages of Limited Liability Company?

A. No requirement to make financial accounts publicly available, no audit requirement.
B. No company tax on the business.
C. Operating as a limited liability company is less risky than operating as a sole trader.
D. Operating as a limited liability company makes reducing share capital easier than sole trader and partnerships.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Câu 1.2: Which of the following statements best defines a statement of financial position?

A. It is a summary of income and expenditure for an accounting period
B. It is a summary of cash receipts and payments made during an accounting period
C. It is a summary of assets, liabilities, and equity at a specified date.
D. It is a summary of assets and expense at a specified date.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Câu 1.3: Which of the following statements are true? (1) Accounting can be described as the recording and summarising of transactions. (2) Financial accounting describes the production of a statement of financial position and statement of profit or loss for internal use.

A. (1) only
B. (2) only
C. Both (1) and (2)
D. None

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Câu 1.4: What is the main purpose of financial accounting?

A. To record all transactions in the books of account
B. To provide management with detailed analyses of costs
C. To enable preparation of financial statements that provides information about an entity’s financial performance and position.
D. To calculate profit or loss for an accounting period

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Câu 1.5: Which of the following statements about users of accounting information is INCORRECT?

A. Management is an internal user
B. Taxing authorities are external users.
C. Present creditors are external users
D. Regulatory authorities are internal users.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Câu 1.6: Which of the following statements is FALSE?

A. A statement of cash flows summarizes information about the cash inflows (receipts) and outflows (payments) for a specific period of time
B. A statement of financial position reports the assets, liabilities, and owner’s equity at a specific date.
C. An income statement presents the revenues, expenses, changes in owner’s equity, and resulting net income or net loss for a specific period of time.
D. An statement of changes in equity summarizes the changes in owner’s equity for a specific period of time.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Câu 1.7: Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal use?

A. The fair presentation concept.
B. The accruals concept.
C. The going concern concept.
D. The business entity concept

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