FAR 1

FAR 1

University

15 Qs

quiz-placeholder

Similar activities

CHAPTER 5 & 6

CHAPTER 5 & 6

University

10 Qs

MKT243 - CHAP 1

MKT243 - CHAP 1

University

10 Qs

CHP 3: SHORT RUN COSTS

CHP 3: SHORT RUN COSTS

University

16 Qs

International financing

International financing

University

10 Qs

FO 101: Types of Accommodation

FO 101: Types of Accommodation

University

10 Qs

UAS Komunikasi Bisnis Ganjil 2021/2022

UAS Komunikasi Bisnis Ganjil 2021/2022

University

20 Qs

internships

internships

University - Professional Development

10 Qs

Financial Services Basics

Financial Services Basics

9th Grade - Professional Development

14 Qs

FAR 1

FAR 1

Assessment

Quiz

Business

University

Practice Problem

Medium

Created by

Mary Pangalay

Used 11+ times

FREE Resource

AI

Enhance your content in a minute

Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

According to the American Accounting Association (AAA), what is the process of accounting?

Identifying, Measuring, Communicating

Recording, Classifying, Summarizing

Analyzing, Determining, Preparing

Examining, Sorting, Distributing

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the primary service offered by most public accounting practitioners?

Auditing

Financial reporting

Taxation service

Management advisory service

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the highest accounting officer in a business entity in the Commerce and Industry field?

Financial analyst

Tax consultant

Auditor

Controller

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What do PFRSS set out dealing with transactions and events in financial statements?

Recognition, Measurement, Presentation, Disclosure

Recording, Classifying, Summarizing

Analyzing, Determining, Communicating

Examining, Sorting, Distributing, Preparing

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

To which entities do PFRSS apply?

Only public accounting practitioners

Only private accounting entities

Only government entities

All profit-oriented entities preparing general purpose financial statements

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What do paragraphs in bold type indicate in the structure of PFRS?

Supporting principles

Exceptions

Main principles

Limitations

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Who is the current standard setting body in the Philippines?

Philippine Interpretations Committee (PIC)

Financial Reporting Standards Council (FRSC)

International Accounting Standards Board (IASB)

Accounting Standards Council (ASC)

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?