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WorksheetsAccounting Industry
Total questions: 9
Worksheet time: 5mins
Which of the following correctly defines the acronym GAAP?
Generally Accrued Accounting Principles
Generally Accepted Accounting Process
Generally Advised Accounting Principles
Generally Accepted Accounting Principles
Which type of accounting is used to develop information for outside sources such as investors?
Tax accounting
External accounting
Financial accounting
Management accounting
Which of the following occurs when the amount of money earned is greater than the amount of money spent?
Profit
Loss
Depreciation
Social cost
An expense being reported at the same time as its corresponding revenue is an example of which of the following principles?
Cost principle
Matching principle
Disclosure principle
Going concern principle
Which of the following refers to a company’s moral duty to uphold laws and regulations?
Profit responsibility
Regulatory responsibility
Ethical responsibility
Social cost
Which of the following refers to additional costs beyond normal business costs due to an activity or policy?
Policy cost
Ethical cost
Public relations costs
Social cost
Which type of accountant is able to work with multiple clients in different industries?
Public accountant
Internal accountant
General ledger accountant
Management accountant
Mr. Lewis discovered the mayor of his town was purchasing football tickets with city funds. Which of the following types of accountant is Mr. Lewis?
Tax accountant
Public accountant
Government accountant
General ledger accountant
Which of the following can be defined as an individual who owns a part of a company through stock ownership?
Auditor
Shareholder
Creditor
Tax accountant
