Accounting Basics MCQs (11-20)

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

Financial management; Accounting

Accounting; Financial management

Financial management; Operations

Operational; Financial accounting

Correct! Wrong!

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

General Public

Investors

Labor Union

Line Manager

Correct! Wrong!

Which of the following groups use financial accounting information?

Suppliers, customers and competitors

Management, employees, shareholders and lenders

All of given option

Tax authorities, government and general public

Correct! Wrong!

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

Structure information

Analyze transactions

Recording social activities

Handle routine book-keeping tasks

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!

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

Chief executive officer

Store manager

Chief financial officer

Creditor

Correct! Wrong!

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

The assumptions and measurement techniques involved in developing accounting information

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

The nature of economic activities that accounting information describes

All of given options

Correct! Wrong!

Someone who uses accounting information is?

A user

An external user

An internal user

A manager

Correct! Wrong!

External users include all of the following except?

Officers

Customers

Lenders

Employees

Correct! Wrong!

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

All of given option

None of given option

Business owners

Lending institutions

Correct! Wrong!

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?

Which of the following groups use financial accounting information?

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

The outcome of financial accounting is to?

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

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

Someone who uses accounting information is?

External users include all of the following except?

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

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