Accounting Principles Quiz

True or false: Accounting is a system that helps businesses track events that affect them?

True or false: The accounting process involves identifying, recording, and communicating the summarized results of all events within a particular period?

True or false: Almost all companies allocate a significant number of resources to the accounting process?

True or false: The sale of Toyota cars is identified as an economic event that affects the company?

True or false: The consolidated records from the accounting process can be used by top management to identify potential problems encountered by the company?

The history of ______ is thousands of years old

The early development of accounting dates back to ancient ______

The development of accounting, along with that of money and ______, may be related to the taxation and trading activities of temples

Perhaps the most important Greek contribution to accountancy was its introduction of ______ money about 600 B.C.

Banking in ancient Greece appears to have been more ______