Class 11 Introduction to Accounting

Class 11 Introduction to Accounting

11th Grade

20 Qs

quiz-placeholder

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Class 11 Introduction to Accounting

Class 11 Introduction to Accounting

Assessment

Quiz

Other

11th Grade

Practice Problem

Medium

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An Asset is...

An asset is a resource currently owned and controlled by a business as a result of a past transaction

An asset is a resource owned i the past by a business as a result of a past transaction

An asset is something that costs money

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a liability?

Loan

Building

Sales

Accounts receivable

3.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Which of the following is not a branch of accounting?

cost accounting

financial accounting

book keeping and accounting

management accounting

4.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Which is the first step of accounting process?

Classifying

analyzing and interpretation

recording

financial statements.

5.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

We record ___________in the books of accounts.

financial transactions

no financial transactions

both financial and non financial transactions

none of these

6.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Qualitative characteristics of accounting information are

Relevance

Reliability

Comparability

All of theses

7.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

End product of accounting is __________and _____________of accounting.

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