Accounting Basics MCQs


MCQs 1 To 10


1. Which of the following does not describe accounting?

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

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

4. AAA stands for?

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

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?

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

8. External reporting is the result of?

9. How many approaches accounting has?

10. Accounting is the language of?


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MCQs 11 To 20


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

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

13. The outcome of financial accounting is to?

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

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

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

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

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

19. Someone who uses accounting information is?

20. External users include all of the following except?


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