TC U14 True/False Questions on Accounting

An accountant is responsible for preparing and maintaining financial records.

• True

• False

A book-keeper analyzes financial statements and provides strategic advice.

• True

• False

Financial accountants focus on preparing reports for external users, such as investors.

• True

• False

Internal auditors are hired by external firms to review a company’s financial records.

• True

• False

External auditors ensure that a company’s financial statements comply with legal standards.

• True

• False

A management accountant helps with day-to-day financial decision-making within a company.

• True

• False

Book-keepers create long-term financial plans and budgets for a company.

• True

• False

Financial accountants are primarily concerned with compliance and tax regulations.

• True

• False

Internal auditors report directly to external stakeholders like shareholders.

• True

• False

An independent auditor is the same as an external auditor.

• True

• False