Accounting

It is the process of systematically recording the financial transactions of a business.

• Bookkeeping

• Accounting

• Financial Statement

• Income

• None of the above

It is the systematic recording, reporting, and analyzing of financial transactions of a business.

• Income

• Bookkeeping

• Accounting

• Financial Statements

• None of the Above

The record of each transaction is carried to either the debit or credit column of a single account.

• Bookkeeping

• Double Entry Bookkeeping

• Single Entry Bookkeeping

• Accounting

• All of the above

Refers to accounting for revenues, expenses, assets and liabilities.

• Cost Accounting

• Financial Accounting

• Management Accounting

• Auditing

• All of the Above

The branch of accounting dealing with the recording, classification, allocation, and reporting of current and prospective costs.

• Auditing

• Management Accounting

• Financial Accounting

• Cost Accounting

• None of the Above

The branch of accounting designed to provide information to various management levels in the business operation for purpose of enhancing controls.

• Financial Accounting

• Cost Accounting

• Auditing

• Management Accounting

• None of the Above

The examination made on the financial reports to ensure its fairness, reliability, and compliance with the set of accounting procedures and standards.

• Cost Management

• Accounting

• Auditing

• Management Accounting

• None of the Above

It is done by those from outside of the organization and protects the interest of the users of the financial statements, which are outside of the organization.

• Internal Audit

• External Audit

• Audit

• Evaluation

• None of the Above

It is done by employees of the company and is reported directly to the management as to the accuracy of business records.

• External Audit

• Internal Audit

• Audit

• Evaluation

• None of the Above

The mechanical task involving the collection of data, and a is routine operation.

• Management

• Accounting

• Bookkeeping

• Revenue

• None of the Above