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Questions and Answers
Who is considered the father of accounting?
Who is considered the father of accounting?
- Roman Egypt
- King himself
- Luca Pacioli (correct)
- Kautilya
Where can evidence of accounting be found in ancient times?
Where can evidence of accounting be found in ancient times?
- Kautilya arthashastra
- Human agriculture and civilization
- Roman Egypt (correct)
- 17th and 18th century
What is the primary focus of financial accounting?
What is the primary focus of financial accounting?
- Recording, summarizing, and reporting business transactions related to financial activities (correct)
- Rapid development in the 17th and 18th century
- Describing the practice of double entry book-keeping
- Maintaining systematic accounts for government servants
What does book-keeping mean?
What does book-keeping mean?
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When did the practice of double entry book-keeping originate?
When did the practice of double entry book-keeping originate?
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What is the standard framework of guidelines for financial accounting used in any given jurisdiction?
What is the standard framework of guidelines for financial accounting used in any given jurisdiction?
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Who are examples of people interested in receiving financial information for decision making purposes?
Who are examples of people interested in receiving financial information for decision making purposes?
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What is the primary focus of financial accounting?
What is the primary focus of financial accounting?
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What are International Financial Reporting Standards (IFRS)?
What are International Financial Reporting Standards (IFRS)?
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What governs financial accountancy?
What governs financial accountancy?
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