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- 1. Multiple Choice
The external users inside the company are those who plan, organize and operate the business.
TRUE
FALSE
- 2. Multiple Choice
The external users are those individuals and organizations outside a company who want financial information outside the company.
FALSE
TRUE
- 3. Multiple Choice
There are four primary internal users of accounts.
TRUE
FALSE
- 4. Multiple Choice
Management is a primary internal user of accounting information.
TRUE
FALSE
- 5. Multiple Choice
Owners are internal users of financial information.
TRUE
FALSE
- 6. Multiple Choice
Customers are not external users of accounts.
TRUE
FALSE
- 7. Multiple Choice
. In Mesopotamia, record-keeping was done through “Clay Triangle Drawing” as evidence of recording transactions.
TRUE
FALSE
- 8. Multiple Choice
Luca Pacioli is the Father of Accounting.
TRUE
FALSE
- 9. Multiple Choice
The British Association of Public Accountants was the initiator to the current American Institute of Certified Public Accountants (AICPA).
TRUE
FALSE
- 10. Multiple Choice
Accounting is a process.
TRUE
FALSE
- 11. Multiple Choice
Accounting is both an art and discipline.
TRUE
FALSE
- 12. Multiple Choice
Accounting is NOT an information system.
TRUE
FALSE
- 13. Multiple Choice
Accounting is NOT the language of business.
TRUE
FALSE
- 14. Multiple Choice
Accounting is the process of informing, repeating, and destructing economic events.
TRUE
FALSE
- 15. Multiple Choice
Recording is a part of accounting process.
TRUE
FALSE
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