POP QUIZ

The following statement is related with the purpose of financial information to the user, EXCEPT:

• evaluate financial performance of the business

• measure the financial position of the business

• for a good record keeping and filling system

• to conduct fraud in the company

Which of the following is NOT an accounting process?

• recording

• communicating

• journalising

• assessment

Which of the following is NOT an internal users of an accounting information?

• owner

• manager

• supervisor

• trading partner

Which form of business organization is characterized by limited liability?

• company

• partnership

• sole trader

• professional partnership

The communicating process in accounting is ____________

• recording the business transactions

• helping the owner to set up a business target

• classifying and summarizing the data into useable form

• publish and deliver the result of business's financial performance to the users

Which of the following statements about users of accounting information is INCORRECT?

• investors are considered as external users

• investors are considered as external users

• potential shareholders are considered as external users

• government are considered as internal users

Which of the following is NOT a characteristic of partnership business?

• compulsory to prepare books and accounts

• owned by minimum of TWO (2) partner

• registered with Business Registration Act 1957

• unlimited liability

Which of the following can be considered as an internal users of accounting information for listed company?

• president of labour union

• securities commission

• CEO

• investors

A sole proprietorship business is ___________

• A separate legal entity

• A business owned by one person

• Registered with Companies Act 1965

• A business owned by 2 or more persons

Which of the following NOT be considered as internal user of accounting data of company?

• The CEO of a company

• Office clerk of a company

• Bank manager of financial institution

• The general manager of a company