
CFAS
Authored by CLARENCE PEREZ
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University
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100 questions
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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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