QUIZ 1: AM111

QUIZ 1: AM111

KG - Professional Development

10 Qs

quiz-placeholder

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QUIZ 1: AM111

QUIZ 1: AM111

Assessment

Quiz

Business

KG - Professional Development

Medium

Created by

Jeni Nicolas

Used 3+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

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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