Introduction to Accounting Quiz

It is a language that provides information about the financial position of an organization.

• Accounting

• Research

• Bookkeeping

• Assets

It is a part of accounting. It is a process of recording, in chronological order, the daily transactions of a business entity.

• Investigating

• Researching

• Bookkeeping

• Reporting

It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, and interpreting and communicating financial information.

• Accounting

• Researching

• Bookkeeping

• Investigating

It is the fundamental accounting equation

• Assets = Capital + Liabilities

• Capital = Assets + Liabilities

• Liabilities = Assets + Capital

• Capital + Assets = Liabilities

These are external users of accounting except __________________.

• Finance

• Creditors

• Investors

• Customers

These are internal users of accounting except, _______________.

• Suppliers

• Marketing

• Management

• Human Resources

A branch of accounting which PRIMARILY CONCERNED is recognition, measurement and communication of economic activities and communicated in a complete set of financial statements.

• Financial Accounting

• Management Accounting

• Government Accounting

• Cost Accounting

A branch of accounting which PRIMARILY CONCERNED is emphasizes the preparation and analysis of accounting information within the organization.

• Financial Accounting

• Management Accounting

• Government Accounting

• Cost Accounting

A branch of accounting which PRIMARILY CONCERNED is emphasizes the the recording of inflow and outflow of funds of the government.

• Financial Accounting

• Management Accounting

• Government Accounting

• Cost Accounting

A branch of accounting which PRIMARILY CONCERNED is collection, determination, allocation, assessment, interpretation, and control of cost of data, particularly the cost of production in a manufacturing concern.

• Financial Accounting

• Management Accounting

• Government Accounting

• Cost Accounting