Accounting Ch 1 & 2
Authored by Tamara Haight
Business, Life Skills
11th - 12th Grade
Used 20+ times
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31 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All businesses need accounting services.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The YMCA is an example of a for-profit organization
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A CPA is a person who has passed a national test and met specified experience and educational standards to become "certified" to practice accounting.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
General accounting rules and procedures differ from business to business
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The corporation is the easiest form of business to organize.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Service businesses are not intended to operate at a profit.
True
False
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
GAAP is a set of accepted rules that all accountants use to prepare financial reports
True
False
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