
Introduction to Accounting Quiz
Authored by Ummi Tahir
Business
Professional Development
Used 2+ times

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21 questions
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1.
MULTIPLE SELECT QUESTION
45 sec • 2 pts
Maya is running her own online clothing store. What are the benefits of bookkeeping and accounting for her business?
Restricted to monetary measurement only.
Offer valuable insights for decision making.
Do not take into account the business situation or employee attitudes.
Capable of monitoring cashflow and budget.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Interpret, classify, analyze, report and summarize financial data.
Bookkeeping
Accounting
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a small business run by Ava, who are the users of bookkeeping and accounting, below?
1. Managers
2. Owners
3. Employees
External
Internal
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Nora is responsible for the recording of financial statements in her small business, and it is a part of the accounting process.
Accounting
Bookkeeping
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a company meeting, Aiden asked, "Which provides information to the external users?"
Financial accounting
Management accounting
6.
MULTIPLE SELECT QUESTION
45 sec • 2 pts
Scarlett is running a small bakery and is trying to keep track of her finances. What is the downside of bookkeeping and accounting for her business?
Limited to monetary measurement (focus on the money value)
Able to monitor the cashflow/ budget.
Ignore the situation of the business, employee's attitude.
Provide useful information in decision making.
Helps to complete record of business transactions.
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Samuel runs a small bakery and needs to keep track of his finances. He understands that accounting methods and procedures should be applied on a uniform basis from period to period.
If he constantly changes the methods, it would lead to misleading profits being calculated from his accounting records.
Prudence concept
Going concern
concept
Consistency concept
Accounting period concept
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