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CFAS

Authored by CLARENCE PEREZ

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University

100 Questions

Used 10+ times

CFAS
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1.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

This is the revised conceptual framework made by IASB to ensure uniformity in interpretation in various accounting methodologies

March 2019

April 1998

March 2018

April 2020

2.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Two types of accounting

Financial and Tax accounting

Financial and Management accounting

Financial and Ledger Accounting

Financial and Cost Accounting

3.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

what is Financial Accounting is primarly for, and does it comply with GAAP?

Internal Users and Does not comply with GAAP

Internal Users and Complies with GAAP

External Users and Does not comply with GAAP

External Users and complies with GAAP

4.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

What does management accounting primarly use for, and does it comply with the GAAP

Internal users and does not comply with gaap

Internal users and complies with gaap

External users and complies with gaap

External users and does not comply with gaap

5.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

This is the primary focus of financial accounting

Report on the companies accounting principles

To prepare financial statements that will be presented to their present and potential investors

To gain monetary value

To prepare financial statement that will be presented to the employees and managers

6.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

What is the first prepared financial statement and the first presented financial statement

Statement of Changes in Equity and Statement of Cash flows

Statement of Profit and Loss or Statement of Comprehensive Income and Statement of Changes in Equity

Statement of Changes in Equity and Statement of Financial Position

Statement of Financial Position and Statement of Profit and Loss or Statement of Comprehensive Income

7.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

This is called _____ financial statements based on gathered information from business transactions

Presentation

Preparation

Faithful Representation

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