Basic Accounting Terminologies

Basic Accounting Terminologies

10th - 12th Grade

25 Qs

quiz-placeholder

Similar activities

Account Titles

Account Titles

11th Grade

20 Qs

Accounting Intro Terms

Accounting Intro Terms

9th - 12th Grade

20 Qs

Chapter 1 - Introduction to Accounting and Business

Chapter 1 - Introduction to Accounting and Business

12th Grade

20 Qs

Accounting

Accounting

9th - 12th Grade

25 Qs

FABM1 UNIT TEST

FABM1 UNIT TEST

11th Grade

20 Qs

Classifications and Balance Information

Classifications and Balance Information

10th - 12th Grade

20 Qs

Accounting

Accounting

9th - 12th Grade

20 Qs

Basic Accounting Terminologies

Basic Accounting Terminologies

Assessment

Quiz

Other, Business

10th - 12th Grade

Medium

Created by

DG M

Used 52+ times

FREE Resource

25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

This means sorting of business transactions to their specific accounts.

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

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?