Accounting for Managers Quiz
Authored by EDWARD AP/MANAGEMENT STUDIES J
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10 questions
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1.
OPEN ENDED QUESTION
3 mins • 1 pt
Define Accounting: (IMPORTANT) The system of recording and summarizing business and financial transactions and analyzing, verifying, and reporting the results. Accounting also refers to the process of summarizing, analyzing and reporting these transactions to oversight agencies, regulators and tax collection entities. It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial Transaction.
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2.
OPEN ENDED QUESTION
3 mins • 1 pt
What is Journal Entry?
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3.
OPEN ENDED QUESTION
3 mins • 1 pt
What is ledger?
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4.
OPEN ENDED QUESTION
3 mins • 1 pt
What is a trial balance?
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5.
OPEN ENDED QUESTION
3 mins • 1 pt
What are Final Accounts?
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6.
OPEN ENDED QUESTION
3 mins • 1 pt
What is balance sheet?
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7.
OPEN ENDED QUESTION
3 mins • 1 pt
What is a current asset?
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