9 Questions
Which field of accounting is assigned to external accounting?
Financial accounting
In external accounting, who determines the design?
Determined by chartered accountants
Who is not an addressee of the financial statement?
Auditor
Which field of accounting is not a function of external accounting?
Statistics and comparative methods
What is the function of financial reporting and accounting pursuant to legal rules?
Financial Reporting/ Accounting pursuant to legal rules
Who is not an addressee of the financial statement?
Auditor
Which is not a function of external accounting?
Monitoring and controlling a company‘s operations
What forms the operating result in accounting?
Income and Expense
What does balancing of receipts and expenditures result in?
Operating result
Study Notes
External Accounting
- Financial accounting is assigned to external accounting.
- The design of external accounting is determined by law or standard setters.
- Tax authorities are not addressees of financial statements.
- Cost accounting is not a function of external accounting.
- The function of financial reporting and accounting is to provide information pursuant to legal rules.
- Tax authorities are not addressees of financial statements.
- Determining the success of management is not a function of external accounting.
Accounting Principles
- The operating result is formed through revenues and expenses in accounting.
- Balancing of receipts and expenditures results in a surplus or deficit.
Test your knowledge of business accounting with this multiple-choice quiz on the basics of external accounting, including fields of accounting and concepts related to financial accounting. This quiz covers topics such as external accounting fields, customization, design, and legal rules.
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