Trial Class Accounting BiOn

Trial Class Accounting BiOn

1st Grade

10 Qs

quiz-placeholder

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Trial Class Accounting BiOn

Trial Class Accounting BiOn

Assessment

Quiz

Social Studies

1st Grade

Practice Problem

Hard

Created by

Made Irma Lestari

Used 2+ times

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main purpose of accounting?

Calculate taxes

Provide financial information for decision making

Record financial transactions

Prepare profit and loss statements

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The financial statement that shows the financial position of a company at a specific date is:

Income statement

Cash flow statement

Balance sheet

Statement of changes in equity

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Financial accounting emphasizes more on:

Recording transactions for internal management

Preparing financial statements used by external parties

Budget planning

Strategic decision making

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is included in current assets on the balance sheet?

Land and buildings

Accounts receivable and inventory

Long-term debt

Share capital

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The difference between debit and credit is:

Debit always indicates expenditure, credit always indicates income

Debit indicates an increase in assets, credit indicates an increase in liabilities

Debit always increases liabilities, credit always decreases liabilities

Both debit and credit indicate changes in equity

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is meant by "modal disetor"?

Capital owned by the company after profits are distributed

Capital that comes from loans

Capital deposited by owners or shareholders

Capital used to pay debts

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is meant by accrual-based accounting?

Recognition of revenue and expenses based on cash received and paid

Recognition of revenue and expenses when transactions occur, even if money has not been received or paid

Recording transactions only if there is proof of payment

Not recording transactions involving cash

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