Accounting Basics MCQs (11-20)

External users of accounting information include all of the following except?

Line Manager

General Public

Investors

Labor Union

Correct! Wrong!

Accounting is an information and measurement system that does all of the following except?

Analyze transactions

Recording social activities

Handle routine book-keeping tasks

Structure information

Correct! Wrong!

The outcome of financial accounting is to?

Record all transactions in the books of accounts

Provide management with detailed analyses of costs

Calculate profit

Present the financial results to the organization by means of recognized financial statements

Correct! Wrong!

Which of the following groups use financial accounting information?

Suppliers, customers and competitors

Management, employees, shareholders and lenders

Tax authorities, government and general public

All of given option

Correct! Wrong!

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

All of given options

Which information is relevant for a particular type of decision that is being made?

The nature of economic activities that accounting information describes

The assumptions and measurement techniques involved in developing accounting information

Correct! Wrong!

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

Financial management; Accounting

Financial management; Operations

Accounting; Financial management

Operational; Financial accounting

Correct! Wrong!

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

All of given option

None of given option

Lending institutions

Business owners

Correct! Wrong!

External users include all of the following except?

Customers

Employees

Lenders

Officers

Correct! Wrong!

Someone who uses accounting information is?

A user

A manager

An external user

An internal user

Correct! Wrong!

Internal users of accounting information include all of the following except?

Chief financial officer

Store manager

Creditor

Chief executive officer

Correct! Wrong!

External users of accounting information include all of the following except?

Accounting is an information and measurement system that does all of the following except?

The outcome of financial accounting is to?

Which of the following groups use financial accounting information?

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

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

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

External users include all of the following except?

Someone who uses accounting information is?

Internal users of accounting information include all of the following except?

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