WorksheetsBasic Accounting
Total questions: 10
Worksheet time: 5mins
It is the art of analyzing financial transactions and economic events, recording them, classifying them into accounts, summarizing them, reporting, and interpreting the results.
Bookkeeping
Journalizing
Accounting
Auditing
Who is the Father of Accounting?
Fra Luca Pacioli
Leonardo Da Vinci
Michealangelo David
René Descartes
It deals with the collection, allocation, and control of the cost of producing specific goods and services
Financial Accounting
Managerial Accounting
Tax Accounting
Cost Accounting
It is the simplest form of business organization
Partnership
Sole Proprietorship
Cooperatives
Corporation
It refers to an association of two or more persons to carry on as co-owners of a business for profit
Partnership
Sole Proprietorship
Cooperatives
Corporation
It is the buying of goods and selling the same without change in form.
Service Business
Merchandising
Manufacturing
It is the process of converting raw materials into finished products
Service Business
Merchandising
Manufacturing
Other term for Merchandising?
Trading
Dealings
Marketing
Commerce
It is also known as “Book of Original Entry”
Chart of Accounts
General Ledger
Journal
Book of Accounts
It is also known as “Book of Final Entry”
Book of Accounts
Chart of Accounts
General Ledger
Trial Balance
