
Unit 1 - Introduction to Accounting
Authored by Sofia Pamaran
Mathematics
University

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Bookkeeping and accounting are one and the same because the bookkeeping function includes the accounting process
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The primary role of accounting is to determine the amount of taxes a business will be required to pay to taxing entities.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Accounting is thought to be the "language of business" because business information is communicated to stakeholders.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Managerial accounting information is used by external and internal users equally.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Financial accounting provides information to all of the business stakeholders, while the main focus for managerial accounting is to provide information to the management.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Accounting Information System deals with helping clients to improve their information system and business performance.
True
False
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes accounting?
Used only for filling out tax returns and for financial statements for various type of governmental reporting requirements.
Records economic data but does not communicate the data to users according to any specific rules.
An information system that provides reports to stakeholders.
Of no use by individuals outside of the business.
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