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Users of Accounting

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Slide 1
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Users of Accounting
By: Mrs. Cousins
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Question 2
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Q.
Which of the following equation is true?
answer choices
Total Asset = Current Asset + Current Liabilities
Asset = Liabilities + Stakeholder's Equity
Total Liabilities = Current Liabilities + Non Curent Liabilities + Equity
Equity = Current Liabilities + Non Current Liabilities
<p>Total Asset = Current Asset + Current Liabilities</p>
alternatives
<p>Asset = Liabilities + Stakeholder's Equity</p>
<p>Total Liabilities = Current Liabilities + Non Curent Liabilities + Equity</p>
<p>Equity = Current Liabilities + Non Current Liabilities</p>
answer explanation
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Question 3
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Q.
Which of these is a liability?
answer choices
Cash in bank
Stock
Money owed to other business (creditors)
Machinery
<p>Cash in bank</p>
alternatives
<p>Stock</p>
<p>Money owed to other business (creditors)</p>
<p>Machinery</p>
answer explanation
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Question 4
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Which of these is an asset?
answer choices
Any stock (Inventory) that you have
A loan to buy a van
A satisfied customer
Reduced rent
<p>Any stock (Inventory) that you have</p>
alternatives
<p>A loan to buy a van</p>
<p>A satisfied customer</p>
<p>Reduced rent</p>
answer explanation
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Question 8
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Q.
A company's senior and middle management use accounting information to:
answer choices
make buy, sell or keep decisions related to shares.
determine a company's profitability and profit sharing
run the business
utilize accounting information to make lending decisions
<p>make buy, sell or keep decisions related to shares.</p>
alternatives
<p>determine a company's profitability and profit sharing</p>
<p>run the business</p>
<p>utilize accounting information to make lending decisions</p>
answer explanation
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Slide 9
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Question 10
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Q.
Data are checked by
answer choices
External users
Internal users
External users + Internal users
None of the answers
<p>External users</p>
alternatives
<p>Internal users</p>
<p>External users + Internal users</p>
<p>None of the answers</p>
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Question 13
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Q.
Did the company earn a satisfactory income?
answer choices
Creditors
Finance
Management
Investors
<p>Creditors</p>
alternatives
<p>Finance</p>
<p>Management</p>
<p>Investors</p>
answer explanation
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Question 14
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Q.
Do we need to borrow in the near future?
answer choices
Creditors
Management
Finance
Investors
<p>Creditors</p>
alternatives
<p>Management</p>
<p>Finance</p>
<p>Investors</p>
answer explanation
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Question 15
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Will the company be able to pay its short-term debts?
answer choices
Customers
Creditors
Debtors
Managers
<p>Customers</p>
alternatives
<p>Creditors</p>
<p>Debtors</p>
<p>Managers</p>
answer explanation
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Slide 17
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