Accounting Basics MCQs (11-20)

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

Lending institutions

Business owners

None of given option

Correct! Wrong!

Which of the following groups use financial accounting information?

Tax authorities, government and general public

Suppliers, customers and competitors

All of given option

Management, employees, shareholders and lenders

Correct! Wrong!

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

Chief financial officer

Chief executive officer

Creditor

Store manager

Correct! Wrong!

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!

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

Structure information

Recording social activities

Analyze transactions

Handle routine book-keeping tasks

Correct! Wrong!

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

Labor Union

Investors

General Public

Line Manager

Correct! Wrong!

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

Accounting; Financial management

Financial management; Accounting

Financial management; Operations

Operational; Financial accounting

Correct! Wrong!

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

The nature of economic activities that accounting information describes

All of given options

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

The assumptions and measurement techniques involved in developing accounting information

Correct! Wrong!

External users include all of the following except?

Employees

Lenders

Customers

Officers

Correct! Wrong!

Someone who uses accounting information is?

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

Which of the following groups use financial accounting information?

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

The outcome of financial accounting is to?

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

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

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

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

External users include all of the following except?

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