
Financial Accounting Quiz
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Professional Development
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Renz Gomez
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41 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The basic components of a corporation include:
Partners and incorporators
Stockholders and promoters
Members and general partners
Contributors and executives
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The systematic presentation of financial transactions refers to:
Financial management
Accounting process
Tax compliance
Economic analysis
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Accounting is:
An art
A science
Both an art and a science
None of the above
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The area of practice where CPAs provide accounting services to several clients on a contractual or engagement basis:
Public accounting
Private accounting
Government accounting
Education or academe
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Accounting provides which of the following information?
Assets
Liabilities
Profit or loss
All of the above
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which of the following is NOT a feature of accounting?
It is a service activity.
It deals only with qualitative data.
It is both an art and a discipline.
It is an information system.
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which type of business organization has at least 15 members?
Corporation
Cooperative
Partnership
Sole proprietorship
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