
Introduction to Accounting Quiz
Authored by AFIFAH NASIR
Financial Education
12th Grade
Used 7+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which one of these is the correct accounting process?
Journal – Ledger – Trial Balance – Financial Statements
Financial Statements – Trial Balance – Ledger - Journal
Journal – Ledger – Financial Statements – Trial Balance
Journal – Trial Balance – Ledger – Financial Statements
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which one of these Financial Statements components that shows the performance of a business?
Statement of Financial Position
Statement of Profit or Loss
Statement of Changes in Equity
Statement of Cash Flows
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
_____________ implies that a business is a separate unit from the owner of the business.
Money Measurement concept
Accrual concept
Economic Entity concept
Going Concern concept
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is the characteristic of a sole proprietorship?
More than one owner
Difficult to setup
Limited liabilities
Unlimited liabilities
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is not an example of an external user of accounting information?
An owner
A creditor
A government agency
A potential investor
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Accounting is responsible in preparing Financial Statements while bookkeeping is not.
False
True
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Financial Statements are prepared before preparing the Trial Balance.
True
False
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