Introduction to Accounting Quiz
Authored by Rajalakshmi Vel
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10 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Business transactions are recorded in which books of accounts?
Balance Sheet
Ledger
Income Statement
Journal
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is ICAI?
Institute of Certified Accountants of India
Institute of Chartered Accountancy of India
Institute of Chartered Accountants of India
Institute of Chartered Agents of India
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Business Transactions of ____________ nature are recorded in Accounting.
accounting
monetary
non-monetary
any
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is the main purpose of Accounting?
To avoid paying taxes
To hide financial information
To communicate business results to interested parties
To confuse people
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is the American Institute of Certified Public Accountants known for?
Developing accounting standards & principles
Training accountants
Make rules of accounting
Audit financial statements
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is the main function of the Income Statement?
To list all the expenses of a company
To show the financial position of a company at a specific point in time
To summarize the revenues and expenses of a company over a period of time
To calculate the total assets of a company
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Assets are what a company ___________ that give ______ to the business
own, status
own, benefits
owes, status
owes, benefits
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