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Accounting Test Practice - Grade 10

Authored by Saktien Adelina

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10th Grade

Used 61+ times

Accounting Test Practice - Grade 10
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61 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A business owned by two or more people who share profits and responsibilities is called …

Corporation

Cooperative

Partnership

Franchise

Sole Proprietorship

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The main advantage of a corporation is …

Unlimited liability

Limited liability

Difficult to raise capital

Easy to dissolve

Owned by one person

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The main goal of creditors is to …

Receive interest and repayment

Receive dividends

Control business operations

Supervise accounting

Manage the company

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

External stakeholders include …

Employees

Managers

Suppliers

Owners

Directors

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Internal stakeholders include …

Shareholders and suppliers

Managers and employees

Government and NGOs

Customers and creditors

Public and investors

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

One benefit of using accounting software is …

More manual work

Real-time data processing

Higher error rates

Increased storage costs

Outdated reporting

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An example of accounting software is …

Excel

SAP

Photoshop

Word

Canva

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