
Business Accounting Quiz
Authored by SYAREENA (POLIMELAKA)
Business
2nd Grade
Used 6+ times

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32 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Going concern is one of the accounting assumptions. Which statement is TRUE about going concern?
A business and its owner are two different entities.
The business is going to be operated for the foreseeable future.
The same accounting method will be used continuously from one accounting period to another.
Business activities can be divided into a certain period of time.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In accounting, the ..................... concept states that expenses should be recorded during the same period in which the revenue incurred.
Separate entity
Consistency
Matching
Going concern
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which accounting concept define the owner and his business are regarded as two different parties?
Separate entity concept
Historical cost concept
Conservatism concept
Money measurement concept
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
“The same accounting method will be used from one accounting period to another accounting period”. Choose accounting concept based on the statement given.
Going concern
Consistency
Materiality
Accountability
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which statement shows the process of accounting in the correct chronological order?
Identifying, recording, summarizing, interpreting
Classifying, recording, summarizing, interpreting
Identifying, recording, interpreting, summarizing
Recording, classifying, identifying, interpreting.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements does NOT describe about users of accounting information?
Management is considered as an external user.
Government is considered as an external user.
Investor is considered as an external user.
Present creditor is considered as an external user.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
At the end of each accounting period, DZ Enterprise depreciates the company vehicles at a rate of 20% per annum on cost. Choose the right accounting concept applied by DZ Enterprise.
Historical cost
Consistency
Matching
Accounting period
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