Accounting Quiz

Accounting Quiz

12th Grade

76 Qs

quiz-placeholder

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Accounting Quiz

Accounting Quiz

Assessment

Quiz

Specialty

12th Grade

Practice Problem

Easy

Created by

11 Anh Phạm Hà Quyên

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76 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Accountants refer to an economic event as a

purchase.

sale.

transaction.

change in ownership.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The accounting process includes each of the following except

communication.

convergence.

identification.

recording.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Communication of economic events is the part of the accounting process that involves

identifying economic events.

quantifying transactions into dollars and cents.

preparing accounting reports.

recording and classifying information.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following events cannot be quantified into dollars and cents and recorded as an accounting transaction?

The appointment of a new accounting firm to perform an audit.

The purchase of a new computer.

The sale of store equipment.

Payment of income taxes.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Recording of economic events involves

keeping a systematic, chronological diary of events.

analyzing reported information.

explaining the meaning of reported data.

preparing accounting reports.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The accounting process involves all of the following except

identifying economic events that are relevant to the business.

communicating financial information to users by preparing financial reports.

recording nonquantifiable economic events.

analyzing and interpreting financial reports.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The accounting process is correctly sequenced as

identification, communication, recording.

recording, communication, identification.

identification, recording, communication.

communication, recording, identification.

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