Accounting Basics Quiz

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Fundamentals of accounting

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Brithany Fiorella Perez Cajape

Ecuador

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Accounting Basics Quiz


Accounting Basics QuizVersión en línea Fundamentals of accounting por Brithany Fiorella Perez Cajape 1 What is the accounting technique that teaches to classify, record, present, and interpret results? a Accounting only presents financial statements. b Accounting only records transactions. c Accounting only classifies documents. d Accounting teaches to classify, record, present, and interpret results. 2 What is the objective of accounting? a To replace managers. b To minimize taxes. c Obtain and provide timely information to business managers. d To maximize sales at all costs. 3 Who is a contador (accountant) as described? a A financial advisor with no signing authority. b An external auditor only. c A person who fixes computers. d The person legally authorized to sign and be responsible for a company’s accounting. 4 Which of the following is true about entities not obligated to keep accounting? a Only corporations must keep accounting. b All entities must keep accounting regardless of income. c Foreign entities are never obligated to keep accounting. d Individuals or foreigners with income not over $100,000 and expenses under $80,000 are not obligated. 5 What are legal entities in accounting? a Private secretarial groups only. b Individuals who work in accounting. c Societies that include all institutions of the public sector. d Only multinational corporations. 6 Which type of accounting records the activities of purchasing and selling goods to obtain profits? a Petroleum accounting b Industrial accounting c Commercial accounting d Governmental accounting 7 Which type of accounting controls costs and movements in transforming raw materials into finished products? a Banking accounting b Commercial accounting c Industrial accounting d Agricultural accounting 8 What is a transaction in accounting? a The exchange of goods or services between two people or companies for money to satisfy needs with a change of value. b A government budget adjustment. c An internal memo within a company. d A marketing campaign deployment. 9 Which elements intervene in a transaction? a Employee, Department, Budget, Tax rate b Product code, Warranty, Inventory location c Date, Buyer, Seller, Proof of sale, Goods or service, Monetary value, Form of payment d Owner, Bank, Manager, Invoice number

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Accounting Basics Quiz

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Accounting Basics QuizVersión en línea

por Brithany Fiorella Perez Cajape

What is the accounting technique that teaches to classify, record, present, and interpret results?

What is the objective of accounting?

Who is a contador (accountant) as described?

Which of the following is true about entities not obligated to keep accounting?

What are legal entities in accounting?

Which type of accounting records the activities of purchasing and selling goods to obtain profits?

Which type of accounting controls costs and movements in transforming raw materials into finished products?

What is a transaction in accounting?

Which elements intervene in a transaction?