Question 1

Match the terms with the definitions.
-A type of ownership structure in which more than one person owns the business.

Accepted Answer

A) accountant 
B) accounting 
C) accounting clerk 
D) analyzing 
E) auditing
F)bookkeeper
G)budgeting
H)Certified Public Accountant
I)classifying
J)controller
K)corporation
L)cost accounting
M)financial accounting
N)generally accepted accounting principles
O)internal auditing
P)interpreting
Q)manufacturing business
R)merchandising business
S)para-accountant
T)partnership
U)recording
V)reporting
W)service business
X)sole proprietorship
Y)summarizing
Z)tax accounting 
A) accountant 
B) accounting 
C) accounting clerk 
D) analyzing 
E) auditing
F)bookkeeper
G)budgeting
H)Certified Public Accountant
I)classifying
J)controller
K)corporation
L)cost accounting
M)financial accounting
N)generally accepted accounting principles
O)internal auditing
P)interpreting
Q)manufacturing business
R)merchandising business
S)para-accountant
T)partnership
U)recording
V)reporting
W)service business
X)sole proprietorship
Y)summarizing
Z)tax accounting T

Question 2

Match the terms with the definitions.
-Reviewing the operating and accounting control procedures adopted by management to make sure the controls are adequate and being followed; assuring that accurate and timely information is provided.

Accepted Answer

A) accountant 
B) accounting 
C) accounting clerk 
D) analyzing 
E) auditing
F)bookkeeper
G)budgeting
H)Certified Public Accountant
I)classifying
J)controller
K)corporation
L)cost accounting
M)financial accounting
N)generally accepted accounting principles
O)internal auditing
P)interpreting
Q)manufacturing business
R)merchandising business
S)para-accountant
T)partnership
U)recording
V)reporting
W)service business
X)sole proprietorship
Y)summarizing
Z)tax accounting 
A) accountant 
B) accounting 
C) accounting clerk 
D) analyzing 
E) auditing
F)bookkeeper
G)budgeting
H)Certified Public Accountant
I)classifying
J)controller
K)corporation
L)cost accounting
M)financial accounting
N)generally accepted accounting principles
O)internal auditing
P)interpreting
Q)manufacturing business
R)merchandising business
S)para-accountant
T)partnership
U)recording
V)reporting
W)service business
X)sole proprietorship
Y)summarizing
Z)tax accounting O

Question 3

Match the terms with the definitions.
-Records, sorts, and files accounting information.

Accepted Answer

A) accountant 
B) accounting 
C) accounting clerk 
D) analyzing 
E) auditing
F)bookkeeper
G)budgeting
H)Certified Public Accountant
I)classifying
J)controller
K)corporation
L)cost accounting
M)financial accounting
N)generally accepted accounting principles
O)internal auditing
P)interpreting
Q)manufacturing business
R)merchandising business
S)para-accountant
T)partnership
U)recording
V)reporting
W)service business
X)sole proprietorship
Y)summarizing
Z)tax accounting 
A) accountant 
B) accounting 
C) accounting clerk 
D) analyzing 
E) auditing
F)bookkeeper
G)budgeting
H)Certified Public Accountant
I)classifying
J)controller
K)corporation
L)cost accounting
M)financial accounting
N)generally accepted accounting principles
O)internal auditing
P)interpreting
Q)manufacturing business
R)merchandising business
S)para-accountant
T)partnership
U)recording
V)reporting
W)service business
X)sole proprietorship
Y)summarizing
Z)tax accounting C

Question 4

Which of the following does NOT use nonprofit accounting guidelines and procedures?

Accepted Answer

A)  proprietorships 
B)  hospitals 
C)  educational institutions 
D)  churches 
A)  proprietorships 
B)  hospitals 
C)  educational institutions 
D)  churches

Question 5

A CMA is a Certified Marketing Auditor.

Accepted Answer

A) True 
 B)False

Question 6

Cost accountants provide a wide variety of services including

Accepted Answer

A)  designing and implementing accounting information systems. 
B)  auditing reviews. 
C)  performing general accounting services. 
D)  analyzing the cost effectiveness of products and services that are produced. 
A)  designing and implementing accounting information systems. 
B)  auditing reviews. 
C)  performing general accounting services. 
D)  analyzing the cost effectiveness of products and services that are produced.

Question 7

The purpose of accounting is to provide financial information about a business to individuals and organizations.

Accepted Answer

A) True 
 B)False

Question 8

Match the terms with the definitions.
-Bringing various items of information together to determine a result.

Accepted Answer

A) accountant 
B) accounting 
C) accounting clerk 
D) analyzing 
E) auditing
F)bookkeeper
G)budgeting
H)Certified Public Accountant
I)classifying
J)controller
K)corporation
L)cost accounting
M)financial accounting
N)generally accepted accounting principles
O)internal auditing
P)interpreting
Q)manufacturing business
R)merchandising business
S)para-accountant
T)partnership
U)recording
V)reporting
W)service business
X)sole proprietorship
Y)summarizing
Z)tax accounting 
A) accountant 
B) accounting 
C) accounting clerk 
D) analyzing 
E) auditing
F)bookkeeper
G)budgeting
H)Certified Public Accountant
I)classifying
J)controller
K)corporation
L)cost accounting
M)financial accounting
N)generally accepted accounting principles
O)internal auditing
P)interpreting
Q)manufacturing business
R)merchandising business
S)para-accountant
T)partnership
U)recording
V)reporting
W)service business
X)sole proprietorship
Y)summarizing
Z)tax accounting

Question 9

An internal auditor can achieve professional recognition in internal auditing by receiving which of the following certificates?

Accepted Answer

A)  GAAP 
B)  CIA 
C)  CMA 
D)  CLU 
A)  GAAP 
B)  CIA 
C)  CMA 
D)  CLU

Question 10

Match the terms with the definitions.
-Procedures and guidelines developed by the Financial Accounting Standards Board to be followed in the accounting and reporting process.

Accepted Answer

A) accountant 
B) accounting 
C) accounting clerk 
D) analyzing 
E) auditing
F)bookkeeper
G)budgeting
H)Certified Public Accountant
I)classifying
J)controller
K)corporation
L)cost accounting
M)financial accounting
N)generally accepted accounting principles
O)internal auditing
P)interpreting
Q)manufacturing business
R)merchandising business
S)para-accountant
T)partnership
U)recording
V)reporting
W)service business
X)sole proprietorship
Y)summarizing
Z)tax accounting 
A) accountant 
B) accounting 
C) accounting clerk 
D) analyzing 
E) auditing
F)bookkeeper
G)budgeting
H)Certified Public Accountant
I)classifying
J)controller
K)corporation
L)cost accounting
M)financial accounting
N)generally accepted accounting principles
O)internal auditing
P)interpreting
Q)manufacturing business
R)merchandising business
S)para-accountant
T)partnership
U)recording
V)reporting
W)service business
X)sole proprietorship
Y)summarizing
Z)tax accounting

Question 11

Match the terms with the definitions.
-A type of ownership structure in which one person owns the business.

Accepted Answer

A) accountant 
B) accounting 
C) accounting clerk 
D) analyzing 
E) auditing
F)bookkeeper
G)budgeting
H)Certified Public Accountant
I)classifying
J)controller
K)corporation
L)cost accounting
M)financial accounting
N)generally accepted accounting principles
O)internal auditing
P)interpreting
Q)manufacturing business
R)merchandising business
S)para-accountant
T)partnership
U)recording
V)reporting
W)service business
X)sole proprietorship
Y)summarizing
Z)tax accounting 
A) accountant 
B) accounting 
C) accounting clerk 
D) analyzing 
E) auditing
F)bookkeeper
G)budgeting
H)Certified Public Accountant
I)classifying
J)controller
K)corporation
L)cost accounting
M)financial accounting
N)generally accepted accounting principles
O)internal auditing
P)interpreting
Q)manufacturing business
R)merchandising business
S)para-accountant
T)partnership
U)recording
V)reporting
W)service business
X)sole proprietorship
Y)summarizing
Z)tax accounting

Question 12

The accounting function of classifying is

Accepted Answer

A)  thinking about how events affect the business. 
B)  gathering similar events to provide information that is easy to understand. 
C)  sorting and grouping similar items together. 
D)  deciding the meaning and importance of the information in various reports. 
A)  thinking about how events affect the business. 
B)  gathering similar events to provide information that is easy to understand. 
C)  sorting and grouping similar items together. 
D)  deciding the meaning and importance of the information in various reports.

Question 13

Examining a transaction or event to determine its fundamental significance to the business so that the relevant information may be properly processed is called

Accepted Answer

A)  recording. 
B)  analyzing. 
C)  classifying. 
D)  interpreting. 
A)  recording. 
B)  analyzing. 
C)  classifying. 
D)  interpreting.

Question 14

Match the terms with the definitions.
-A type of ownership structure in which stockholders own the business. The owners' risk is usually limited to their initial investment and they usually have very little influence on the business decisions.

Accepted Answer

A) accountant 
B) accounting 
C) accounting clerk 
D) analyzing 
E) auditing
F)bookkeeper
G)budgeting
H)Certified Public Accountant
I)classifying
J)controller
K)corporation
L)cost accounting
M)financial accounting
N)generally accepted accounting principles
O)internal auditing
P)interpreting
Q)manufacturing business
R)merchandising business
S)para-accountant
T)partnership
U)recording
V)reporting
W)service business
X)sole proprietorship
Y)summarizing
Z)tax accounting 
A) accountant 
B) accounting 
C) accounting clerk 
D) analyzing 
E) auditing
F)bookkeeper
G)budgeting
H)Certified Public Accountant
I)classifying
J)controller
K)corporation
L)cost accounting
M)financial accounting
N)generally accepted accounting principles
O)internal auditing
P)interpreting
Q)manufacturing business
R)merchandising business
S)para-accountant
T)partnership
U)recording
V)reporting
W)service business
X)sole proprietorship
Y)summarizing
Z)tax accounting

Question 15

A corporation is usually managed by

Accepted Answer

A)  stockholders. 
B)  a professional manager. 
C)  a proprietor. 
D)  two or more partners. 
A)  stockholders. 
B)  a professional manager. 
C)  a proprietor. 
D)  two or more partners.

Question 16

Bringing together various items of information to determine or explain a result is

Accepted Answer

A)  summarizing. 
B)  interpreting. 
C)  recording. 
D)  classifying. 
A)  summarizing. 
B)  interpreting. 
C)  recording. 
D)  classifying.

Question 17

Certified Public Accountant is a professional designation that a public accountant can earn by passing a written exam and completing a specific amount of work experience.

Accepted Answer

A) True 
 B)False

Question 18

Match the terms with the definitions.
-A system of gathering financial information about a business and reporting this information to users.

Accepted Answer

A) accountant 
B) accounting 
C) accounting clerk 
D) analyzing 
E) auditing
F)bookkeeper
G)budgeting
H)Certified Public Accountant
I)classifying
J)controller
K)corporation
L)cost accounting
M)financial accounting
N)generally accepted accounting principles
O)internal auditing
P)interpreting
Q)manufacturing business
R)merchandising business
S)para-accountant
T)partnership
U)recording
V)reporting
W)service business
X)sole proprietorship
Y)summarizing
Z)tax accounting 
A) accountant 
B) accounting 
C) accounting clerk 
D) analyzing 
E) auditing
F)bookkeeper
G)budgeting
H)Certified Public Accountant
I)classifying
J)controller
K)corporation
L)cost accounting
M)financial accounting
N)generally accepted accounting principles
O)internal auditing
P)interpreting
Q)manufacturing business
R)merchandising business
S)para-accountant
T)partnership
U)recording
V)reporting
W)service business
X)sole proprietorship
Y)summarizing
Z)tax accounting

Question 19

Match the terms with the definitions.
-Deciding the meaning and importance of the information in various reports.

Accepted Answer

A) accountant 
B) accounting 
C) accounting clerk 
D) analyzing 
E) auditing
F)bookkeeper
G)budgeting
H)Certified Public Accountant
I)classifying
J)controller
K)corporation
L)cost accounting
M)financial accounting
N)generally accepted accounting principles
O)internal auditing
P)interpreting
Q)manufacturing business
R)merchandising business
S)para-accountant
T)partnership
U)recording
V)reporting
W)service business
X)sole proprietorship
Y)summarizing
Z)tax accounting 
A) accountant 
B) accounting 
C) accounting clerk 
D) analyzing 
E) auditing
F)bookkeeper
G)budgeting
H)Certified Public Accountant
I)classifying
J)controller
K)corporation
L)cost accounting
M)financial accounting
N)generally accepted accounting principles
O)internal auditing
P)interpreting
Q)manufacturing business
R)merchandising business
S)para-accountant
T)partnership
U)recording
V)reporting
W)service business
X)sole proprietorship
Y)summarizing
Z)tax accounting

Question 20

Match the terms with the definitions.
-Generally supervises the work of accounting clerks, helps with daily accounting work, and summarizes accounting information.

Accepted Answer

A) accountant 
B) accounting 
C) accounting clerk 
D) analyzing 
E) auditing
F)bookkeeper
G)budgeting
H)Certified Public Accountant
I)classifying
J)controller
K)corporation
L)cost accounting
M)financial accounting
N)generally accepted accounting principles
O)internal auditing
P)interpreting
Q)manufacturing business
R)merchandising business
S)para-accountant
T)partnership
U)recording
V)reporting
W)service business
X)sole proprietorship
Y)summarizing
Z)tax accounting 
A) accountant 
B) accounting 
C) accounting clerk 
D) analyzing 
E) auditing
F)bookkeeper
G)budgeting
H)Certified Public Accountant
I)classifying
J)controller
K)corporation
L)cost accounting
M)financial accounting
N)generally accepted accounting principles
O)internal auditing
P)interpreting
Q)manufacturing business
R)merchandising business
S)para-accountant
T)partnership
U)recording
V)reporting
W)service business
X)sole proprietorship
Y)summarizing
Z)tax accounting

Match the terms with the definitions. -A type of ownership structure in which more than one person owns the business.

Match the terms with the definitions. -Reviewing the operating and accounting control procedures adopted by management to make sure the controls are adequate and being followed; assuring that accurate and timely information is provided.

Match the terms with the definitions. -Records, sorts, and files accounting information.

Which of the following does NOT use nonprofit accounting guidelines and procedures?

A CMA is a Certified Marketing Auditor.

Cost accountants provide a wide variety of services including

The purpose of accounting is to provide financial information about a business to individuals and organizations.

Match the terms with the definitions. -Bringing various items of information together to determine a result.

An internal auditor can achieve professional recognition in internal auditing by receiving which of the following certificates?

Match the terms with the definitions. -Procedures and guidelines developed by the Financial Accounting Standards Board to be followed in the accounting and reporting process.

Match the terms with the definitions. -A type of ownership structure in which one person owns the business.

The accounting function of classifying is

Examining a transaction or event to determine its fundamental significance to the business so that the relevant information may be properly processed is called

Match the terms with the definitions. -A type of ownership structure in which stockholders own the business. The owners' risk is usually limited to their initial investment and they usually have very little influence on the business decisions.

A corporation is usually managed by

Bringing together various items of information to determine or explain a result is

Certified Public Accountant is a professional designation that a public accountant can earn by passing a written exam and completing a specific amount of work experience.

Match the terms with the definitions. -A system of gathering financial information about a business and reporting this information to users.

Match the terms with the definitions. -Deciding the meaning and importance of the information in various reports.

Match the terms with the definitions. -Generally supervises the work of accounting clerks, helps with daily accounting work, and summarizes accounting information.

Analyzing Transactions: the Accounting Equation

The Double-Entry Framework

Journalizing and Posting Transactions

Adjusting Entries and the Work Sheet

Financial Statements and the Closing Process

Accounting for Cash

Payroll Accounting: Employer Taxes and Reports

Accounting for Sales and Cash Receipts

Accounting for Purchases and Cash Payments

Special Journals

Accounting for Merchandise Inventory

Adjustments and the Work Sheet for a Merchandising Business

Financial Statements and Year-End Accounting for a Merchandising Business

Accounting for a Professional Service Business: The Combination Journal

Filters

Exam 1: Introduction to Accounting

Match the terms with the definitions. -A type of ownership structure in which more than one person owns the business.

Match the terms with the definitions. -Reviewing the operating and accounting control procedures adopted by management to make sure the controls are adequate and being followed; assuring that accurate and timely information is provided.

Match the terms with the definitions. -Records, sorts, and files accounting information.

Which of the following does NOT use nonprofit accounting guidelines and procedures?

A CMA is a Certified Marketing Auditor.

Cost accountants provide a wide variety of services including

The purpose of accounting is to provide financial information about a business to individuals and organizations.

Match the terms with the definitions. -Bringing various items of information together to determine a result.

An internal auditor can achieve professional recognition in internal auditing by receiving which of the following certificates?

Match the terms with the definitions. -Procedures and guidelines developed by the Financial Accounting Standards Board to be followed in the accounting and reporting process.

Match the terms with the definitions. -A type of ownership structure in which one person owns the business.

The accounting function of classifying is

Examining a transaction or event to determine its fundamental significance to the business so that the relevant information may be properly processed is called

Match the terms with the definitions. -A type of ownership structure in which stockholders own the business. The owners' risk is usually limited to their initial investment and they usually have very little influence on the business decisions.

A corporation is usually managed by

Bringing together various items of information to determine or explain a result is

Certified Public Accountant is a professional designation that a public accountant can earn by passing a written exam and completing a specific amount of work experience.

Match the terms with the definitions. -A system of gathering financial information about a business and reporting this information to users.

Match the terms with the definitions. -Deciding the meaning and importance of the information in various reports.

Match the terms with the definitions. -Generally supervises the work of accounting clerks, helps with daily accounting work, and summarizes accounting information.

Analyzing Transactions: the Accounting Equation

The Double-Entry Framework

Journalizing and Posting Transactions

Adjusting Entries and the Work Sheet

Financial Statements and the Closing Process

Accounting for Cash

Payroll Accounting: Employer Taxes and Reports

Accounting for Sales and Cash Receipts

Accounting for Purchases and Cash Payments

Special Journals

Accounting for Merchandise Inventory

Adjustments and the Work Sheet for a Merchandising Business

Financial Statements and Year-End Accounting for a Merchandising Business

Accounting for a Professional Service Business: The Combination Journal

Filters