Quiz QBOA definition of accounting

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Question 1 of 4

1. Question

Question 1

Why do accounting writers consider accounting to be the language of business?

1. Accounting is the discipline studied in all countries of the world.
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2. Businesses like to use accounting.
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3. Various information about the organization of the business is presented by means of accounting statements.
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4. Legally, accounting must play a key role in business.
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Question 2 of 4

2. Question

Question 2

The different types of accounting include:

1. General accounting, financial accounting, managerial accounting and forecast accounting.
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2. Managerial accounting, financial accounting, cost accounting and budgeting.
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3. Bank accounting, cash accounting, analytical accounting and forecast accounting.
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4. Management accounting, general accounting, analytical accounting and international accounting.
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Question 3 of 4

3. Question

Question 3:

Choose the correct answer:

1. Financial accounting produces financial statements presented to tax authorities and the public.
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2. Financial accounting produces financial statements presented to investors
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3. Financial accounting produces financial statements used for the internal management of the company.
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4. Financial accounting produces financial statements used for cost analysis.
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Question 4 of 4

4. Question

Question 4

Choose the correct answer:

1. Managerial accounting uses much of the same data as financial accounting.
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2. Managerial accounting is used to produce financial statements that are presented to tax authorities.
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3. Managerial accounting is used to produce information according to specific standards.
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4. Managerial accounting helps tell the story of the business to potential investors.
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