Who is considered the Father of Accounting?

Accounting Quiz

Quiz
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Others
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11th Grade
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Hard
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Leonardo da Vinci
Isaac Newton
Albert Einstein
Luca Pacioli
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary objective of maintaining business records in accounting?
To calculate profit or loss
To ascertain financial position
To provide information to users
To remember every transaction
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the term 'Assets' refer to in accounting?
Economic resources of the business
Total revenue earned by a business
Investment made by owners
Amounts due from others
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of a voucher in accounting?
To represent unsold goods
To provide evidence of a transaction
To calculate profit or loss
To show the financial position
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does 'Drawings' represent in accounting?
Amount spent to earn revenue
Unsold goods at the end of the year
Assets withdrawn by the owner for personal use
Total revenue earned by a business
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the distinction between current and non-current items in accounting?
Current items are primarily for trading
Current items are realised/settled within 12 months
Current items are cash or cash equivalent
Current items are involved in the operating cycle
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term used for the excess of revenue over expenses in an accounting year?
Discount
Profit
Loss
Gain
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