WorksheetsPre-test AK1
Total questions: 10
Worksheet time: 5mins
The financial statements most frequently provided include all of the following except the
statement of financial position
income statement
statement of cash flows
statement of retained earnings
Which of the following represents a form of communication through financial reporting but not through financial statements?
Statement of financial position
President's letter
Income statement
Notes to financial statements
The process of identifying, measuring, analyzing, and communicating financial information needed by management to plan, evaluate, and control an organization’s operations is called
financial accounting
managerial accounting
tax accounting
auditing
The major financial statements include all of the following except
Statement of financial position
Statement of changes in financial position
Statement of comprehensive income
Statement of changes in equity
Which of the following parties are likely to use financial reports prepared using the financial accounting process?
Creditors
Government agencies
Unions
All of these answer choices are correct
What is the major objective of financial reporting?
Provide information that is useful to management in making decisions
Provide information that clearly portrays nonfinancial transactions
Provide information that is useful to present and potential equity investors, lenders, and other creditors in making decisions
Provide information that excludes claims to the resources
Accrual accounting is used because
cash flows are considered less important
it provides a better indication of ability to generate cash flows than the cash basis
it recognizes revenues when cash is received and expenses when cash is paid
None of these answers are correct
The purpose of the International Accounting Standards Board is to
issue enforceable standards which regulate the financial accounting and reporting of multinational corporations
develop a uniform currency in which the financial transactions of companies through-out the world would be measured
develop a single set of high-quality IFRS
arbitrate accounting disputes between auditors and international companies
In the past, many countries have relied on their own standard-setting organizations. The standards issued by these various standard-setting organizations around the world include
Tax-oriented standards
Business-based standards
Principles-based standards
All of these answers are correct
Standar Akuntansi yang berlaku di Indonesia saat ini, kecuali
Standar Akuntansi Keuangan
Standar Akuntansi Syariah
Standar Akuntansi Entitas Privat
Standar Akuntansi EMKM
