Accounting Quiz

Accounting Quiz

University

20 Qs

quiz-placeholder

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Accounting Quiz

Accounting Quiz

Assessment

Quiz

English

University

Practice Problem

Medium

Created by

Rizanani (KTN)

Used 3+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the definition of accounting?

The process of identifying, recording, and communicating economic events

A system for managing employees

A method to prevent fraud

A way to impress creditors

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who are considered internal users of accounting data?

Governmental agencies

Customers

Managers

Investors

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a major disadvantage of a sole proprietorship?

No legal obligations

Shared profits

Unlimited liability

Limited liability

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT an external user of accounting data?

Creditors

Employees (existing)

Investors

Governmental agencies

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of accounting information for managers?

To analyze business performance

To impress creditors

To maintain records of transactions

To prevent fraud

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of business organization is owned by one person?

Partnership

Company

Corporation

Sole proprietorship

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a use of accounting data for creditors?

To assess company’s success

To determine creditworthiness

To ensure financial stability

To analyze profitability

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