TPA Quiz

Which of the following is pre-requisite for the emergence of systematic bookkeeping.

• Debit

• Trading

• Commerce

• Merchant

According to the Sobart's argument, the main reason for strong emergence capatilasm is accounting?

• True

• FALSE

The need of accounting rises due to changes of economic activities from hunting and gathering to?

• Investing

• Agriculture

• Aquaculture

• Trading

In 18th century, several treatment of fixed assets was introduce, which of the following is INCORRECT.

• Asset is carried forward at original cost

• Asset account is closed at opening date

• Asset is revalued, upward or downward.

Periodic financial statements was introduce in mid-17th century. This gives benefits for?

• Calculation of expenses and profit

• Comparison of business performance

• Rationalize impersonal abstract account

Which of the following are NOT contributing factor for emergence of systematic bookkeeping

• The perpetual system

• Invention of writing

• Inexpensive writing materials

• Standard medium of exchange

Usage of three books of accounts was introduced by Luca Pacioli, what is the source of books of accounts

• memorandum, notes and ledger

• Journal, ledger and T-account

• ledger, memo and journal

• notes, memorandum and journal

In which century that depreciating property was accounted for as unsold merchandise

• 17th

• 18th

• 19th

• 20th

Luca Pacioli is a Franciscan friar who is often associated with introduction of double entry bookkeeping. Did Luca Pacioli invent the bookkeeping system?

• He did

• Not Remember

• No

• Yes

• Maybe

Between 16th - 17th century separate inventory account was used to accounts for different types of goods.

• True

• False

• Maybe

• Not Sure