Accounting provides management with information which are of financial in character and identifies which data is relevant for decision making.

QUIZ 1: AM111

Quiz
•
Business
•
KG - Professional Development
•
Medium
Jeni Nicolas
Used 3+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
TRUE
FALSE
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The primary role of an accountant in business is to prepare financial statements.
TRUE
FALSE
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Decision- makers of the business are relying on financial accounting data to be able to make decisions.
TRUE
FALSE
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The primary motive of a person engaged in business is profit.
TRUE
FALSE
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The accountancy profession is continually evolving and developing to meet the changing needs of time.
TRUE
FALSE
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
he preparation of financial statements is governed and guided by concepts or assumptions which are the very foundations of GAAP.
TRUE
FALSE
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The length of accounting period chosen depends on the need of the owner for financial information about his business.
TRUE
FALSE
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