Search Header Logo

Accounting Quiz

Authored by Dhruv Sharma

Education

University

Used 3+ times

Accounting Quiz
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

40 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The primary function of accounting is to:

Minimize company taxes

Provide financial information for decision-making

Manage the company's stock price

Hire new employees

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is considered an internal user of accounting information?

A bank providing a loan

A potential investor

A department manager

A government tax agency

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The qualitative characteristic that ensures information is available to decision-makers before it loses its capacity to influence decisions is:

Reliability

Comparability

Timeliness

Consistency

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The 'Business Entity Concept' implies that:

The business will run for a long time

The business is treated as separate and distinct from its owners

All transactions must have a dual effect

Profits should not be anticipated

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An expenditure that provides benefits for more than one accounting period is called:

Revenue Expenditure

Deferred Expense

Capital Expenditure

Fictitious Expenditure

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a company's assets are ₹5,00,000 and its capital is ₹3,00,000, what are its liabilities?

₹8,00,000

₹2,00,000

₹3,00,000

₹5,00,000

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The final step in the accounting process is:

Recording in the Journal

Preparing the Trial Balance

Communicating information to users

Posting to the Ledger

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?