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WorksheetsQuiz1-lesson 1
Total questions: 15
Worksheet time: 5mins
it is a service activity that provides quantitative information which is financial in nature
Bookkeeping
Accounting
Journalizing
Selling
In the definition of Accounting, the transactions and events are expressed in
Monetary value
Qualitative nature
Quantitative means
None of the above
An information system may means as
a manual system
A computerized system
A customized system designed to fit accounting
All of the above
Analyzing and interpreting means
Expressing it in a vertical analysis
expressing in financial ratios
expressing it in a horizontal analysis
All of the above
The management reports that are generated by an organizations is solely for
in-house reporting
external reporting
outside agencies reporting
All of the above
Branch of Accounting that focuses on the preparation of financial statements
Management Accounting
Financial Accounting
Auditing
Accounting Education
This branch of accounting tells that the in-house information generated by the accountant for specific purposes will serve as benchmark to company's performance
Management Accounting
Financial Accounting
Auditing
Accounting Education
This branch of accounting focuses on the preparation of tax returns as required by the Bureau of Internal Revenue (BIR)
Management Accounting
Financial Accounting
Tax Accounting
Accounting Education
This is carried out by Certified Public Accountant in the public practice who should be accredited by the Board of Accountancy (BOA)
External Auditing
Internal Auditing
Government Accounting
Tax Accounting
This profession is carried out by Certified Public accountant in the academe
External Auditing
Internal Auditing
Government Accounting
Accounting Education
He is the user of accounting information who determines the credit worthiness the organization
Creditors
Owners
Investors
regulatory bodies
He is the user of accounting information who uses information for analyzing the feasibility of investing in the business organization
customers
tax authorities
Investors
Employees
He is a user of accounting information who uses it for assessing the financial position of its suppliers which is necessary for them to maintain a stable source of long term supply
customers
tax authorities
Investors
Employees
He is a user of accounting information that uses it for decision making
management
employees
Investors
all of the above
He is a user of accounting information that uses it for assessing a business organization's profitability and its consequences on their future remuneration and job security
management
employees
Investors
all of the above
