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Accounting

Authored by John Robinson

Social Studies

University

Accounting
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25 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is recorded in the cash receipts journal?

cash withdrawn by the owner

cash purchase of equipment

cash received on customer's account

adjusting entry for depreciation

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is a primary function of accounting in social studies?

A) To track historical events

B) To manage financial records

C) To analyze political systems

D) To study cultural impacts

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In the context of social studies, what does the term 'fiscal policy' refer to?

A) Government spending and taxation

B) Cultural exchange programs

C) Historical document preservation

D) Social welfare initiatives

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which accounting principle is crucial for ensuring transparency in government financial reports?

A) Consistency

B) Prudence

C) Full disclosure

D) Materiality

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How does accounting contribute to understanding economic systems in social studies?

A) By providing data on financial transactions

B) By analyzing social behaviors

C) By documenting historical events

D) By studying geographical impacts

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What role does accounting play in the study of public administration?

A) It helps in policy formulation

B) It tracks government expenditures

C) It analyzes cultural trends

D) It studies historical governance

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is an example of a financial statement used in social studies?

A) Balance sheet

B) Constitution

C) Treaty

D) Census report

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