[E4FS] U7.1
Quiz by Irina
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10 questions
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- Q1The activity or occupation of keeping records of the financial affairs of a business is ..................bookeepingaccountingauditing30s
- Q2A formal record of the financial activities of an organisation is ........summary reportspread sheetfinancial statement30s
- Q33 purposes of this type of accounting are: (1) cost control, (2) cost computation, (3) cost reduction.cost accountingmanagement accountingfinancial accounting30s
- Q4Since the car was .................. that Joe owned, it was the first thing seized by the bank when he could not pay off his loans.a ownershipan asseta debta liability30s
- Q5A(n) ........................ is funds used by a business, organization, or corporation to attain new assets, improve existing ones, or reduce a liability. In other words, it’s the use of a resource in the operations of a business.assetequityexpenditure30s
- Q6In the dark ages before computer, bookkeepers used ...............mergersledgershedgers30s
- Q7What is the role of internal audit?- calculating and recording business transactions- preparing the income statement- evaluating risks30s
- Q8.............. can be divided into several fields including financial, management, tax and cost one.auditingaccountingrevision30s
- Q9Bills, debts, interest, taxes are ..............debtsassetsliabilities30s
- Q10Usually .............. are not qualified to a high level.bookkeepersauditorsfinancial directors30s