NEW
Font size
WorksheetsRole of Accounting
Total questions: 11
Worksheet time: 6mins
The purpose of Accounting is
to make sound decisions
to meet taxation requirements
to provide financial information and advice
to make money
Accounting is best described as:
recording, analysing, collecting, reporting and interpreting information
analysing, recording, collecting, interpreting and reporting information
interpreting, collecting, reporting, recording and analysing information
collecting, recording, reporting, analysing, and interpreting information
How many main types of Accountants exist
5
4
6
3
A public accountant is one who
are employed by one particular business as a private employee
works in academia, tertiary education or research
who are employed by the Government
works in busines for themselves
Which is not one of the main types of Accountant
public accountant
government accountant
tax accountant
private accountant
Accounting guarantees that the decision makers make the right decision
true
false
Good financial information will improve the chances of good decisions being made
False
True
Non financial information is best described as:
monetary figures expressed in accounting reports
Net Profit and Owner's equity
cash at bank levels
information not found in financial statements and is not expressed in dollars or cents
Users of accounting information need to think about how a decision will affect the finance of the business as well as the people and community with whom it is connected.
true
false
Ethical considerations is best described as:
looking after the environment
looking after the people
social and environmental consequences of a financial decision
the economic impact of the decision
Financial data refers to
an Income Statement
a Balance Sheet
a Cash Flow Statement
raw facts and figures
