Which of the following is the external user of financial statements?
A. Manager of the business
B. CEO of the business
C. Creditor of the business
D. Controller of the business
Which of the following is the external user of financial statements? Read More »
Accounting MCQs / Q&A A. Reporting the financial information
B. Examination of financial statements
C. Preparation financial statements
D. maintaining the ledger records
Keeg the log of financial information in books of original entries is called__________?
A. Recording
B. summarizing
C. Groug
D. Processing
For which step of accounting process the accountants of business entity prepare financial statements?
A. Identification of economic event
B. Communication of financial information
C. Recording financial information
D. Making decisions about business
Financial accounting provides financial information to all of the following external users except:
A. Government agencies
B. investors
C. Creditors
D. Managers
Bookkeeg mainly concerns with which part of accounting process?
A. Analyzing
B. Preparing financial statements
C. Recording financial information
D. Auditing the books of accounts
Bookkeeping mainly concerns with which part of accounting process? Read More »
Accounting MCQs / Q&AIdentify the correct sequence of accounting process
A. Communicating→Recording→Identifying
B. Recording→Communicating→Identifying
C. Identifying→communicating→recording
D. Identifying→recording→communicating
Identify the correct sequence of accounting process Read More »
Accounting MCQs / Q&AIn accounting an Economic event is referred to as:
A. Cash
B. Bank statement
C. Transaction
D. Exchange of money
In accounting an Economic event is referred to as: Read More »
Accounting MCQs / Q&A A. General journal
B. Cash journal
C. Purchase journal
D. Sales return day book
Credit memo or credit note No. is entered in which of the following journal? Read More »
Accounting MCQs / Q&ABUSINESS paid rent amounting to $100″ which of the following specialized journals records this transaction?
A. Cash receipts journal
B. Cash payments journal
C. Sales journal
D. Purchase journal
