Accounting Basics MCQs 11-20

The outcome of financial accounting is to?

Calculate profit

Provide management with detailed analyses of costs

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

Record all transactions in the books of accounts

Correct! Wrong!

Which of the following groups use financial accounting information?

Management, employees, shareholders and lenders

Suppliers, customers and competitors

Tax authorities, government and general public

All of given option

Correct! Wrong!

External users include all of the following except?

Officers

Employees

Lenders

Customers

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!

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

Chief financial officer

Store manager

Creditor

Chief executive officer

Correct! Wrong!

Someone who uses accounting information is?

A manager

An internal user

A user

An external user

Correct! Wrong!

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

All of given option

Business owners

Lending institutions

None of given option

Correct! Wrong!

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

Financial management; Operations

Accounting; Financial management

Operational; Financial accounting

Financial management; Accounting

Correct! Wrong!

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

Investors

Labor Union

Line Manager

General Public

Correct! Wrong!

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

Recording social activities

Handle routine book-keeping tasks

Structure information

Analyze transactions

Correct! Wrong!

The outcome of financial accounting is to?

Which of the following groups use financial accounting information?

External users include all of the following except?

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

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

Someone who uses accounting information is?

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

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

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?

Search