Introduction to Accounting

Introduction to Accounting

11th Grade

15 Qs

quiz-placeholder

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Introduction to Accounting

Introduction to Accounting

Assessment

Quiz

Financial Education

11th Grade

Practice Problem

Hard

Created by

Ronnel Salgado

Used 3+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Accounting aims to communicate financial information to investors only.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Accounting deals with quantifiable information.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is the last step of accounting as a process of information?

Accountancy refers to the art of classifying the recorded transactions under their respective accounts

Preparation of financial statement

Interpret financial data

All of the choices

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The earliest accounting was founded by?

Egyptian

Eastern

Roman

Greek

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All of the following are functions of Accounting, except:

shorting

summarizing

recording

interpreting

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not true?

Accounting is a communication tool that is useful to both internal and external decision-makers.

Accounting is useful only to profit-oriented organizations.

Accounting is the language of business.

Accounting is not an exact science.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is the last step of accounting as a process of information?

Communication of infromation

Recording the transaction

Analysis and interpretation of information

Preparation of financial statement

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