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Accounting Fundamentals

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Questions and Answers

Which tool was developed by the Chinese around 3000 B.C for counting and calculating?

Industrial Revolution

Abacus (correct)

Clay Tokens

Stones

What is accountancy?

A system that provides financial information (correct)

A system for keeping records

A tool for counting and calculating

A process for making economic decisions

What is bookkeeping?

A system that provides financial information

A system for keeping records (correct)

A process for making economic decisions

A tool for counting and calculating

What was the first accounting system made of?

Stones Signup and view all the answers

When did the Industrial Revolution begin?

Late 18th century Signup and view all the answers

Which type of information does accountancy provide to business owners and stakeholders?

Quantitative financial information Signup and view all the answers

What does bookkeeping deal with?

Keeping records of economic activities Signup and view all the answers

What is the purpose of the clay tokens in the history of accounting?

To track goods and animals Signup and view all the answers

When did the Industrial Revolution begin?

Late 18th century Signup and view all the answers

What is the purpose of accounting during the Industrial Revolution?

To develop cost efficient businesses Signup and view all the answers

Accounting Fundamentals

Choose a study mode

Podcast

Questions and Answers

Which tool was developed by the Chinese around 3000 B.C for counting and calculating?

What is accountancy?

What is bookkeeping?

What was the first accounting system made of?

When did the Industrial Revolution begin?

Which type of information does accountancy provide to business owners and stakeholders?

What does bookkeeping deal with?

What is the purpose of the clay tokens in the history of accounting?

When did the Industrial Revolution begin?

What is the purpose of accounting during the Industrial Revolution?

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