Introduction to accounting Quiz-3

Introduction to accounting Quiz-3

11th Grade

25 Qs

quiz-placeholder

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Introduction to accounting Quiz-3

Introduction to accounting Quiz-3

Assessment

Quiz

Other

11th Grade

Practice Problem

Easy

Created by

Raj Narayan Yadav

Used 18+ times

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Bookkeeping is ______.

An art
A science
Both an art as well as science
None of these

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

___________ is the last step of accounting as a process of information.

Recording of data in the books of accounts
Preparations of summaries in the form of financial statement
Communication of information
Analysis and interpretation of information

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The person, firm, or institution who does not pay the price in cash for the goods purchased or the services received is called ______.

Creditor
Proprietor
Debtor
None of these

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Use of a common unit of measurement and common format of reporting promotes _____.

Comparability
Understandability
Relevance
Reliability

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Cash, goods, or assets invested by the proprietor in the business for earning profit is called ______.

Profit
Capital
Fixed assets
None of these

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which qualitative characteristics of accounting information are reflected when accounting information is clearly presented?

Comparability
Understandability
Relevance
Reliability

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The process of recording, classifying, and summarising all business transactions in order to know the financial result is called ______.

Bookkeeping
Accounting
journalising
None of these

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