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</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</p> Signup and view all the answers

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

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

    मैनेजेरियल लेखा क्या प्रदान करता है?

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

    IFRS की प्रसार में क्या परिणाम हुआ है?

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

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