Accounting Basics MCQs (11-20)

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

Accounting; Financial management

Financial management; Operations

Financial management; Accounting

Operational; Financial accounting

Correct! Wrong!

Someone who uses accounting information is?

A user

A manager

An external user

An internal user

Correct! Wrong!

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

Structure information

Analyze transactions

Handle routine book-keeping tasks

Recording social activities

Correct! Wrong!

External users include all of the following except?

Officers

Customers

Lenders

Employees

Correct! Wrong!

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

Chief executive officer

Creditor

Chief financial officer

Store manager

Correct! Wrong!

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

Lending institutions

None of given option

All of given option

Business owners

Correct! Wrong!

Which of the following groups use financial accounting information?

Management, employees, shareholders and lenders

Suppliers, customers and competitors

All of given option

Tax authorities, government and general public

Correct! Wrong!

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

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

The assumptions and measurement techniques involved in developing accounting information

Correct! Wrong!

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

Labor Union

Investors

Line Manager

General Public

Correct! Wrong!

The outcome of financial accounting is to?

Record all transactions in the books of accounts

Present the financial results to the organization by means of recognized financial statements

Provide management with detailed analyses of costs

Calculate profit

Correct! Wrong!

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

Someone who uses accounting information is?

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

External users include all of the following except?

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

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

Which of the following groups use financial accounting information?

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

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

The outcome of financial accounting is to?

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