Chapter 1: Introduction to Accounting March 18, 2024 Maven Leave a Comment Welcome to the Chapter 1: Introduction to Accounting Quiz! This quiz is based on the book back questions. Name Email 1. The financial position of a business is ascertained on the basis of: Journal Trial balance Balance sheet Ledger None 2. Which one of the following is not a branch of accounting? Financial accounting Management accounting Human resources accounting None of the above None 3. The root of financial accounting system is: Social accounting Stewardship accounting Management accounting Responsibility accounting None 4. Which one of the following is not a main objective of accounting? Systematic recording of transactions Ascertainment of the profitability of the business Ascertainment of the financial position of the business Solving tax disputes with tax authorities None 5. Who is considered to be the internal user of financial information? Creditor Employee Customer Government None Time's up Related Posts:Chapter 2: Conceptual Framework of AccountingChapter 10: Depreciation AccountingChapter 14: Computerised AccountingChapter 10: Computerised Accounting system - Tally
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