Question 1

Since financial information is communicated in accounting terms, accounting is said to be the "language of business."

Accepted Answer

A) True 
 B)False

Question 2

The person who records or enters information in accounting records may be referred to as a(n)

Accepted Answer

A)  budgeter. 
B)  journalist. 
C)  accounting clerk. 
D)  scribe. 
A)  budgeter. 
B)  journalist. 
C)  accounting clerk. 
D)  scribe.

Question 3

Stockholders may have very little influence on business decisions.

Accepted Answer

A) True 
 B)False

Question 4

Match the terms with the definitions.
-The process in which accountants help managers develop a financial plan.

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 5

Since financial information is communicated in accounting terms, accounting is said to be

Accepted Answer

A)  the language of business. 
B)  public. 
C)  private. 
D)  nonprofit. 
A)  the language of business. 
B)  public. 
C)  private. 
D)  nonprofit.

Question 6

The principal accounting officer of a company is called a pubic accountant.

Accepted Answer

A) True 
 B)False

Question 7

Match the terms with the definitions.
-A business that makes products to sell.

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 8

Match the terms with the definitions.
-Entering financial information about events affecting the company into the accounting system.

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

The six major steps of the accounting process are analyzing, recording, classifying, summarizing, reporting, and interpreting.

Accepted Answer

A) True 
 B)False

Since financial information is communicated in accounting terms, accounting is said to be the "language of business."

The person who records or enters information in accounting records may be referred to as a(n)

Stockholders may have very little influence on business decisions.

Match the terms with the definitions. -The process in which accountants help managers develop a financial plan.

Since financial information is communicated in accounting terms, accounting is said to be

The principal accounting officer of a company is called a pubic accountant.

Match the terms with the definitions. -A business that makes products to sell.

Match the terms with the definitions. -Entering financial information about events affecting the company into the accounting system.

The six major steps of the accounting process are analyzing, recording, classifying, summarizing, reporting, and interpreting.

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

Since financial information is communicated in accounting terms, accounting is said to be the "language of business."

The person who records or enters information in accounting records may be referred to as a(n)

Stockholders may have very little influence on business decisions.

Match the terms with the definitions. -The process in which accountants help managers develop a financial plan.

Since financial information is communicated in accounting terms, accounting is said to be

The principal accounting officer of a company is called a pubic accountant.

Match the terms with the definitions. -A business that makes products to sell.

Match the terms with the definitions. -Entering financial information about events affecting the company into the accounting system.

The six major steps of the accounting process are analyzing, recording, classifying, summarizing, reporting, and interpreting.

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