Financial Accounting Basics Quiz

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Questions and Answers

What is the standard framework of guidelines for financial accounting used in any given jurisdiction?

  • Generally Accepted Accounting Principles (GAAP) (correct)
  • Local Accounting Standards (LAS)
  • Accounting Standards Board (ASB) guidelines
  • International Financial Reporting Standards (IFRS)

Who are examples of stakeholders interested in financial accounting information?

  • Government agencies, business owners, and customers
  • Stockholders, suppliers, and government agencies (correct)
  • Stockholders, customers, and employees
  • Suppliers, employees, and business owners

Which organization issues International Financial Reporting Standards (IFRS)?

  • Securities and Exchange Commission (SEC)
  • Financial Accounting Standards Board (FASB)
  • International Accounting Standards Board (IASB) (correct)
  • International Monetary Fund (IMF)

What does financial accountancy involve?

<p>Preparation of financial statements for public use (A)</p> Signup and view all the answers

What has become more prevalent between global organizations with the widespread adoption of IFRS?

<p>Consistency in financial reporting (B)</p> Signup and view all the answers

अंतर्राष्ट्रीय वित्तीय प्रकटन मानक (IFRS) किसके द्वारा जारी किए जाते हैं?

<p>अंतरराष्ट्रीय मानक बोर्ड (IASB) (D)</p> Signup and view all the answers

मैनेजेरियल लेखा क्या प्रदान करता है?

<p>प्रबंधकों को निर्णय लेने में सहायता (C)</p> Signup and view all the answers

IFRS की प्रसार में क्या परिणाम हुआ है?

<p>संस्थाओं के बीच वित्तीय प्रकटन में संरूपता (C)</p> Signup and view all the answers

मुख्यत: Financial Accounting किसलिए प्रस्तुत किया जाता है?

<p>संस्था के बाहर के लोगों के लिए लेखा सूचना (A)</p> Signup and view all the answers

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