Accounting Book 1 Units 1-6

1. Which of the following are common jobs in the accounting field?

• Auditor

• tax accountant

• Civil engineer

• bookkeeper

Which of the following are examples of office supplies commonly used by accountants?

• Calculators

• Safety Helmets

• Filing Cabinets

• Printer Paper

Which steps are part of the bookkeeping cycle?

• Recording Transactions

• Preparing Financial Statements

• Conducting Job Interviews

• Posting to the General Ledger

Which of the following statements about International Accounting Standards (IAS) are true?

• They help standardize financial reporting globally.

• They are used in many countries worldwide.

• They only apply to U.S. companies.

• They ensure transparency in financial statements.

Which of the following are responsibilities of an accountant?

• Repairing office computers

• Ensuring tax compliance

• Analyzing company expenses

• Preparing financial reports

Which of these symbols are commonly used when working with large numbers in accounting?

• K (thousand)

• M (million)

• L (liter)

• B (billion)

Which of the following are common types of financial transactions recorded in the bookkeeping cycle?

• Assets (equipment, land)

• Employee performance reviews

• Expenses (rent, salaries)

• Revenue (sales)

Which of these organizations are involved in setting International Accounting Standards?

• International Accounting Standards Board (IASB)

• Financial Accounting Standards Board (FASB)

• International Financial Reporting Standards (IFRS) Foundation

• World Health Organization (WHO)

When writing financial reports, accountants often use commas to separate _________ _________.

Accountants use ___________ to calculate complex financial equations.