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WorksheetsFUNDA OF ABM1
Total questions: 15
Worksheet time: 5mins
1.Which of the following is not a step in the accounting process?
verifying
identifying
summarizing
communicating
Which of the following is not the functions of accounting in a business?
protecting properties of the business
keeping systematic records of the business
communicating the results to various parties
complying illicit requirements
Which is not the nature of accounting?
it is an art
it is a process
it is a formation system
it is a means and not an end
What is AICPA?
American Investment of Certified Private Accountants
American Institute of Certified Public Accountants
Association of Investors and Certified Accountants
Association Institute of Certified Accountants
Functions of accounting that the government requires companies to provide financial reports quarterly, semi-annually or annually
keeping systematic record
protecting properties
meeting legal requirements
communicating results to various parties
Who is the father of modern accounting?
Leonardo da Vinci
Queen Victoria
Emperor Augustus
Luca Pacioli
What is the significant event in the history of accounting?
debit-credit
double entry
bookkeeping
journalizing
Who granted a royal charter to the institute of accountants?
Luca Pacioli
Emperor Augustus
Queen Victoria
Leonardo da Vinci
What is the nature of accounting that deals with the numerical value?
it is a process
it is an art
it is a means and not an end
it deals with financial transactions
What is the meaning of AAA?
Association of American Accountants
American Accounting Association
Association of American Accounting
American Association of Accounting
What account which was listed as public revenues by Emperor Augustus?
Aerarium
Publicani
Fisci
Rationarium
What is the first calculator used in ancient times?
papyrus
clay tablets
abacus
clay tokens
Which is the most important step in the accounting process?
identifying
recording
interpreting
all of the above
Which nature of accounting emphasizes that it is not an objective?
Accounting is an art
Accounting is a process
Accounting is a means and not an end
Accounting deals with financial transactions
Who is the person responsible for the process of identifying, recording, analyzing, summarizing and interpreting economic events of a business?
manager
bookkeeper
accountants
treasurer
