Financial Accounting Quiz

Financial Accounting Quiz

1st Grade

10 Qs

quiz-placeholder

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Financial Accounting Quiz

Financial Accounting Quiz

Assessment

Quiz

Business

1st Grade

Practice Problem

Hard

Created by

Belal Ghaleb

Used 1+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the primary focus of financial accounting?

Managing internal business operations

Reporting financial information to external users

Developing marketing strategies

Conducting employee performance reviews

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is NOT a learning objective of Chapter 1?

Explain what accounting is

Identify the users and uses of accounting

Understand the principles of marketing

State the accounting equation

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is NOT one of the three basic activities of accounting?

Identification

Recording

Communication

Marketing

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is included in the accounting process?

Bookkeeping

Sales forecasting

Product development

Customer service

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is an example of an internal user of accounting data?

Investors

Creditors

Marketing managers

Government agencies

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is an example of an external user of accounting data?

Human resources manager

Production supervisor

Investor

CEO

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Why is ethics considered a fundamental business concept in accounting?

It helps in increasing sales

It ensures accurate and honest financial reporting

It reduces production costs

It improves customer satisfaction

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