Accounting Basics MCQs 11-20

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

Store manager

Chief financial officer

Chief executive officer

Creditor

Correct! Wrong!

External users include all of the following except?

Officers

Customers

Lenders

Employees

Correct! Wrong!

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

Investors

General Public

Labor Union

Line Manager

Correct! Wrong!

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

None of given option

Business owners

All of given option

Lending institutions

Correct! Wrong!

Someone who uses accounting information is?

An external user

An internal user

A manager

A user

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

Operational; Financial accounting

Accounting; Financial management

Correct! Wrong!

The outcome of financial accounting is to?

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

Record all transactions in the books of accounts

Calculate profit

Provide management with detailed analyses of costs

Correct! Wrong!

Which of the following groups use financial accounting information?

Management, employees, shareholders and lenders

All of given option

Suppliers, customers and competitors

Tax authorities, government and general public

Correct! Wrong!

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

Recording social activities

Structure information

Handle routine book-keeping tasks

Analyze transactions

Correct! Wrong!

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

All of given options

The nature of economic activities that accounting information describes

The assumptions and measurement techniques involved in developing accounting information

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

Correct! Wrong!

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

External users include all of the following except?

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

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

Someone who uses accounting information is?

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

The outcome of financial accounting is to?

Which of the following groups use financial accounting information?

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

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

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