10 Questions
Which tool was developed by the Chinese around 3000 B.C for counting and calculating?
Abacus
What is accountancy?
A system that provides financial information
What is bookkeeping?
A system for keeping records
What was the first accounting system made of?
Stones
When did the Industrial Revolution begin?
Late 18th century
Which type of information does accountancy provide to business owners and stakeholders?
Quantitative financial information
What does bookkeeping deal with?
Keeping records of economic activities
What is the purpose of the clay tokens in the history of accounting?
To track goods and animals
When did the Industrial Revolution begin?
Late 18th century
What is the purpose of accounting during the Industrial Revolution?
To develop cost efficient businesses
Test your knowledge on the history and fundamentals of accounting with this quiz. Explore the origins of accounting systems and learn about the importance of bookkeeping in providing financial information to businesses. Gain a deeper understanding of how accounting serves as an information system for economic decision-making.
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