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Intro to Accounting Quiz

Authored by Arjoy Carrera

Other

12th Grade

Used 3+ times

Intro to Accounting Quiz
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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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