WorksheetsChapter 1: Intro to Accounting
Total questions: 10
Worksheet time: 5mins
Who is known as the father of accounting?
Leonardo da Vinci
Al Khawarizmy
Luca Pacioli
Al Mazendarany
Which one of the following is not an external user of accounting information?
Investor
Manager
Creditor
Customer
………………… is the process of identifying, recording and classifying, summarizing, analyzing and interpreting business transaction.
Bookkeeping
Transaction
Accounting
Financing
What is the function of financial report to management in any organization?
To make planning to improve business performance
To invest in another company
To supervise their workers
To acquire another company
What is the function of financial Accounting?
To calculate the costs of each product
To give an information about financial position of business
To ensure salary increments and other benefit
To identify any fraud or manipulation
Which of the following is not the field of accounting?
Management Accounting
Financial Accounting
Taxation
Principle accounting
Which of the following is not the internal user of financial information?
Management of Finance
Management
Business Owner
Potential investor
Which of the following would not be considered as the external users of accounting data?
Malayan Banking Berhad
Potential investor
Inland Revenue Board
Marketing Manager
Which of the following is NOT part of financial statements?
Statement of Cash Budget
Statement of Profit or Loss
Statement of Financial Position
Statement of Cash Flows
Which of the following statement CORRECT about management accounting?
Need to follow Financial Reporting Standards
Based on past data
For internal and external users
Based on future data
