This means sorting of business transactions to their specific accounts.
Basic Accounting Terminologies

Quiz
•
Other, Business
•
10th - 12th Grade
•
Medium
DG M
Used 52+ times
FREE Resource
25 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Classifying
Recording
Interpreting
Summarizing
2.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
It is defined as the systematic and chronological recording of business transactions.
Bookkeeping
Financing
Interpreting
Planning
3.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
It is the language of business as it is communicating the financial statements to the users.
Budgeting
Accounting
English language
Bookkeeping
4.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
It means writing down of business transactions in the journals or in the official book of accounts.
Recording
Classifying
Interpreting
Summarizing
5.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
It is engaged in analyzing the financial statements.
Recording
Classifying
Interpreting
Summarizing
6.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
It is grouping of the entries recorded in the books of accounts and the preparation of financial statements.
Recording
Classifying
Interpreting
Summarizing
7.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
The first phase of accounting is bookkeeping.
True
False
Create a free account and access millions of resources
Similar Resources on Wayground
20 questions
NOCTI Review 2

Quiz
•
10th - 12th Grade
20 questions
Accounting Basics

Quiz
•
9th - 12th Grade
20 questions
Accounting Ch 1

Quiz
•
9th - 12th Grade
22 questions
Accounting Terms Chapter 1

Quiz
•
11th - 12th Grade
20 questions
Elective 1 (Bookkeeping) Pre-Test

Quiz
•
12th Grade
20 questions
Chapter 1 - Introduction to Accounting and Business

Quiz
•
12th Grade
22 questions
accounting vocab

Quiz
•
11th Grade
20 questions
Business Studies Grade 11 - Finance quiz

Quiz
•
11th Grade
Popular Resources on Wayground
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade