Entrep quiz review

It is the process of recording the business transaction in a chronological systematic manner.

• Accounting

• Bookkeeping

• Classifying

• Recording

It is the process of recording of financial transactions along with storing, sorting, retrieving, summarizing, and presenting the results in various reports and analysis.

• Accounting

• Bookkeeping

• Classifying

• Recording

Bookkeeper functions are the following except:

• Keep tract of the records

• Handle all the parts of the process

• Systematic and chronological recording

• Handle the recording part of the accounting

Accounting as the language of the business means ____________.

• Financial Statement shows the business net profit

• Financial Statement is used by the business in decision making

• Financial Statement is used as the medium of the communication in the business community

• all of the above

He is known as the "FATHER OF ACCOUNTING"

• Luca Paciolo

• Luca Pacioli

• Luca Picolo

• Luca Piolo

A period of development of the accounting rules and regulation.

• Information Age

• French Revolution

• Middle Age

• Primitive Age

During this early stage of accounting development, ancient people used twigs, bullae, and clay tablets in accounting and writing.

• Information Age

• French Revolution

• Middle Age

• Primitive Age

At this age, accountant use accounting software

• Primitive Age

• Middle Age

• Industrial Revolution

• Information Age

This is when double entry-bookkeeping started, a debit and credit value entered in transaction.

• Information Age

• Middle Age

• Industrialized Revolution

• Primitive Age

The accountants/bookkeeper tracks the records of the business.

• Classifying

• Interpreting

• Recording

• Summarizing