Accounting Basics MCQs



MCQs 1 To 10

 

1. Which of the following does not describe accounting?

Correct! Wrong!

2. The two most common specialized fields of accounting in practice are?

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3. Which of the following user groups required the most detailed financial information?

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4. AAA stands for?

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5. Which one of the following statement completely and correctly describes accounting?

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6. Which of the following provides information about the financial information’s, obligations and activities on the economic entity that is intended for use primarily by external decision makers?

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7. Which of the following statement is true about purpose of accounting?

Correct! Wrong!

8. External reporting is the result of?

Correct! Wrong!

9. How many approaches accounting has?

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10. Accounting is the language of?

Correct! Wrong!

Accounting Basics MCQs (1-10)
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MCQs 11 To 20

 

11. To understand and use accounting information in making economic decisions, you must understand?

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12. The controller's responsibilities are primarily in nature, while the treasurer's responsibilities are primarily related to?

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13. The outcome of financial accounting is to?

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14. Which of the following is not a user of Management Accounting Information?

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15. An accounting system is used by a business to?

Correct! Wrong!

16. External Users of Financial Accounting Information include all of the following except?

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17. Which of the following groups use financial accounting information?

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18. Which of the following persons are most likely to use accounting information?

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19. Someone who uses accounting information is?

Correct! Wrong!

20. External users include all of the following except?

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Accounting Basics MCQs (11-20)
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>> Further Reading Accounting Definition.

References

Awais, Q. M. (2009). Fundamental of Financial Accounting. (2nd, Ed.) Lahore: Waheed Publication.

Bazley, M., Hancock, P., Berry, A., & Jarvis, R. (2001). Contemporary Accounting. (4th, Ed.) UK: International Thomson Business Press.

Ghani, M. A. (1992). Principles of Accounting. (13th, Ed.) Lahore: Pak Imperial Book Depot.

Gupta, R. L., & Radheswamy, M. (2009). Advanced Accountancy (Vol. I & II). New Delhi: S Chand & Co.

Jain, S. .., & Narang, K. N. (2014). Advanced Accountancy. New Delhi: Kalyani Publishers.

Maheshwari, S. N., & Maheshwari, S. K. (2009). An Introduction to Accountancy. (10th, Ed.) New Delhi: Vikas Publishing House Pvt. Ltd.

Maheshwari, S. N., & Maheshwari, S. K. (2009). Financial Accounting. (5th, Ed.) New Delhi: Vikas Publishing House Pvt. Ltd.

Maheshwari, S. N., & Maheshwari, V. L. (2009). Advanced Accountancy (Vol. I & II). New Delhi: Vikas Publishing House Pvt. Ltd.

Mukharji, A., & Hanif, M. (2003). Financial Accounting (Vol. 1). New Delhi: Tata McGraw-Hill Publishing Co.

Narayanswami, R. (2008). Financial Accounting: A Managerial Perspective. (3rd, Ed.) New Delhi: Prentice Hall of India.

Porwal, L. S. (2001). Accounting Theory. New Delhi: Tata Mcgraw Hill Publishing Co. Ltd.

Ramchandran, N., & Kakani, R. K. (2007). Financial Accounting for Management. (2nd, Ed.) New Delhi: Tata McGraw Hill.

Sehgal, A., & Sehgal, D. (n.d.). Advanced Accountancy (Vol. I & II). New Delhi: Taxmann Publication Pvt. Ltd.

Shukla, M. C., Grewal, T. S., & Gupta, S. C. (2008). Advanced Accountancy (Vol. I & II). New Delhi: S Chand & Co.

Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2012). Accounting Principles (10th ed.). Hoboken: John Wiley & Sons, Inc.

Williams, M., & Bettner, H. (1999). Accounting (The basic for business decisions). (11th, Ed.) USA: Irwin McGraw- Hill.

 

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