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WorksheetsIntroduction of accounting 1
Total questions: 10
Worksheet time: 5mins
………………… is the process of identifying, recording and classifying, summarizing, analyzing and interpreting business transaction.
Bookkeeping
Accounting
Transaction
Financing
Bookkeeping differs from accounting. Which part of the accounting process is primarily involved in bookkeeping?
Measurement
Analyzing
Communication
Recording
What is the function of financial report to management in any organization?
To make decision for company
To supervise their workers
To enable business ongoing basis
To acquire additional capital
Which types of business offers share for sale to the public?
Sole Proprietorship
Partnership
Public Limited Company
Private Limited Company
What is the function of financial Accounting?
To give an information about financial position of business
To determine the amount of profit and loss
To ensure salary increments and other benefit
To know the ability of a company or business to repay debts
Which of the following is not the field of accounting?
Management Accounting
Financial Accounting
Tax Accounting
Principle Accounting
Which of the following are not the external users of accounting information?
Management
Banks
Creditors
Supplier
Which of the following is not the role of an accountant?
manage and run the business
comply with the accounting standard
prepare financial reports
communicate the financial information to stakeholders
Which of the following is not the internal user of financial information?
Management of Finance
Business Owner
Management
Potential investor
Which of the following would not be considered as the external users of accounting data?
Malayan Banking Berhad
Inland Revenue Board
Potential investor
Marketing Manager
