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introduction to accounting

Quiz by Uvathi Mariappan

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57 questions
Show answers
  • Q1
    What is accounting?
    Designing software applications
    Managing employees
    Marketing products and services
    Recording, classifying, and summarizing financial transactions
    30s
  • Q2
    What are the two main types of accounting?
    Human resources and marketing
    Information technology and auditing
    Financial and managerial
    Sales and logistics
    30s
  • Q3
    What is the purpose of accounting?
    To provide information for decision making
    To entertain customers
    To improve employee satisfaction
    To make profits
    30s
  • Q4
    Who uses accounting information?
    Only external users
    Only internal users
    Only shareholders
    Internal and external users
    30s
  • Q5
    What is the purpose of financial accounting information?
    To provide marketing information
    To provide information about a company's financial performance and position
    To provide legal information
    To track employee performance
    30s
  • Q6
    Which of the following is an example of an external user of accounting information?
    Managers
    Investors
    Employees
    Suppliers
    30s
  • Q7
    What is the primary concern of internal users of accounting information?
    Making informed decisions
    Meeting legal requirements
    Maximizing profits
    Maintaining ethical standards
    30s
  • Q8
    Which of the following is an example of an internal user of accounting information?
    Shareholders
    Competitors
    Managers
    Customers
    30s
  • Q9
    What type of accounting information do creditors typically use?
    Employee performance reports
    Marketing reports
    Legal reports
    Financial statements and credit reports
    30s
  • Q10
    What is the primary concern of external users of accounting information?
    Ensuring ethical practices
    Monitoring supply chain management
    Assessing a company's financial performance and position
    Improving employee satisfaction
    30s
  • Q11
    Which of the following is an example of an external user of accounting information?
    Peers
    Subordinates
    Regulators
    Supervisors
    30s
  • Q12
    What type of accounting information do investors typically use?
    Marketing reports
    Financial statements and ratios
    Employee performance reports
    Legal reports
    30s
  • Q13
    What type of accounting information do managers typically use?
    Credit reports
    Financial statements and ratios
    Budgets, forecasts, and performance reports
    Legal reports
    30s
  • Q14
    What is the main difference between bookkeeping and accounting?
    Bookkeeping is only done by large corporations, while accounting can be done by anyone.
    There is no difference between bookkeeping and accounting.
    Accounting involves the analysis and interpretation of financial data, while bookkeeping is simply the recording of financial transactions.
    Accounting is only done by large corporations, while bookkeeping can be done by anyone.
    30s
  • Q15
    What is the purpose of bookkeeping?
    To accurately record financial transactions.
    To create financial reports.
    To analyze and interpret financial data.
    To make financial decisions.
    30s

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