Accounting

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• cash withdrawn by the owner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

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

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• C) Historical document preservation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

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

• A) Consistency

• B) Prudence

• C) Full disclosure

• D) Materiality

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

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

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

In social studies, how is the concept of 'budget' most commonly applied?

• A) Planning government expenditures

• B) Organizing cultural festivals

• C) Documenting historical events

• D) Analyzing social behaviors

What is the significance of 'auditing' in the context of social studies?

• A) Ensuring accuracy in financial reporting

• B) Studying ancient civilizations

• C) Promoting cultural heritage

• D) Analyzing political ideologies

Which accounting concept is essential for evaluating the economic impact of social policies?

• A) Cost-benefit analysis

• B) Historical cost

• C) Matching principle

• D) Going concern