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Branches of Accounting

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

Encompasses the process of analyzing, classifying, summarizing and communicating all transactions including the receipt anf disposition of government funds and property, and interpreting the results thereof.

a)

Cost Accounting

b)

Management Accounting

c)

Government Accounting

d)

Tax Accounting

2.

Includes the collection, determination, allocation, assessment, interpretation, and control of cost data, particularly the cost of production in a manufacturing concern

a)

Tax Accounting

b)

Cost Accounting

c)

Accounting Education

d)

Financial Accounting

3.

The examination and review of accounting reports in order to ascertain their fairness, propriety and reliability

a)

Financial Accounting

b)

Auditing

c)

Accounting Research

d)

Budgeting

4.

Deals with the activities which involves the recording and preparation of reports known as financial statements

a)

Financial Accounting

b)

Management Accounting

c)

Accounting Education

d)

Cost Accounting

5.

Involves planned grading and formal teaching in an educational institution

a)

Government Accounting

b)

Accounting Research

c)

Accounting Education

d)

Cost Accounting

6.

Government agency which renders services in preparing and collecting of taxes of individuals and businesses.

a)

DBM

b)

COA

c)

BTr

d)

BIR

7.

Statement that shows the financial position or condition of an entity by listing the assets, liabilities and owner’s equity

a)

Balance Sheet

b)

Income Statement

c)

Accounting Sheet

d)

Accounting Titles

8.

Include the preparation of monthly value added tax, percentage tax, expanded withholding tax returns, quarterly and annual tax returns and any other taxes applicable to business.

a)

Cost Accounting

b)

Tax Accounting

c)

Accounting Management

d)

Private Accounting

9.

Government agencies tasked on all the transactions of government funds and properties.

a)

DBM

b)

BTr

c)

DOH

d)

DILG

10.

All are elements of a balance sheet except:

a)

Asset

b)

Liabilities

c)

Owner's Equity

d)

Revenue