
Trial Class Accounting BiOn
Quiz
•
Social Studies
•
1st Grade
•
Practice Problem
•
Hard
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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