
Intro to Accounting Quiz
Quiz
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Other
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12th Grade
•
Practice Problem
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Easy
Arjoy Carrera
Used 1+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary purpose of accounting?
To manage human resources
To increase product sales
To record and summarize financial transactions
To monitor customer behavior
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not an objective of accounting?
Ascertain profit or loss
Determine political position
Provide decision-making information
Maintain systematic records
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Accounting helps ensure:
Low employee turnover
Statutory compliance
Marketing effectiveness
Customer loyalty
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who uses accounting information for strategic planning?
Doctors
Mechanics
Stakeholders
Tourists
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which accounting field involves tracking income and expenses to aid budgeting?
Forensic Accounting
Management Accounting
Financial Accounting
Tax Accounting
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following careers focuses on investigating fraud?
Public Accountant
Management Accountant
Forensic Accountant
Financial Analyst
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Accrual Principle in accounting means:
Revenues are recorded when received in cash
Transactions are recorded when they occur, not when cash is exchanged
Expenses should never exceed revenue
Money must be physically counted
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