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Professional Development
Professional Development
0102-Accounting Activities - MCQ1
13 questions
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- 1. Multiple Choice
Which of the following would not be considered an internal user of accounting data for the XYZ Company?
President of the employees' labor union
Merchandise inventory clerk
Production manager
President of the company
- 2. Multiple Choice
Which of the following would not be considered internal users of accounting data for a company?
Creditors of a company
Salesmen of the company
The controller of a company
The president of a company
- 3. Multiple Choice
Which of the following is an external user of accounting information?
Labor unions
Finance directors
Company officers
Managers
- 4. Multiple Choice
Which one of the following is not an external user of accounting information?
None of these
Regulatory agencies
Customers
Investors
- 5. Multiple Choice
Bookkeeping differs from accounting in that bookkeeping primarily involves which part of the accounting process?
Recording
Analysis
Communication
Identification
- 6. Multiple Choice
A balance sheet shows
assets, liabilities, and owner's equity.
revenues, expenses, and drawings.
expenses, drawings, and owner's equity.
revenues, liabilities, and owner's equity.
- 7. Multiple Choice
An income statement
presents the revenues and expenses for a specific period of time.
reports the assets, liabilities, and owner's equity at a specific date.
reports the changes in assets, liabilities, and owner's equity over a period of time.
summarizes the changes in owner's equity for a specific period of time.
- 8. Multiple Choice
The balance sheet is frequently referred to as
the statement of financial position.
an operating statement.
the statement of cash flows.
the statement of owner's equity.
- 9. Multiple Choice
The primary purpose of the statement of cash flows is to report
information about cash receipts and cash payments of a company.
the net increase or decrease in cash.
a company's investing transactions.
a company's financing transactions.
- 10. Multiple Choice
All of the financial statements are for a period of time except the
balance sheet.
statement of cash flows.
income statement.
owner's equity statement.
- 11. Multiple Choice
Which of the following is not part of the accounting process?
Financial decision making
Recording
Identifying
Communicating
- 12. Multiple Choice
The first part of the accounting process is
identifying.
processing.
recording.
Communicating
- 13. Multiple Choice
Internal users of accounting information include all of the following except
investors.
company officers.
marketing managers.
production supervisors.
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