Basic Accounting
Authored by Jancy Vini
Financial Education
University
Used 5+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Business is distinct from owner. This concept is called
Separate entity
Going concern
cost
money measurement
2.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Accounting is
a science
an art
both art and science
none of the above
3.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Accounting refers to
selling and buying transaction
counting the cash
recording business transaction in terms of money
getting and giving credit
4.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Every business transaction has
one aspect
two aspect
three aspect
four aspect
5.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
The business entity concept can be applied to
sole proprietor
partnership farm
company
all the above
6.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Accounting does not record non financial transaction
entity concept
dual aspect concept
money measurement concept
cost concept
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Prepaid commission is ......
as asset
a liability
a loss
none
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