Basics of Business Accounting MCQ

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UndisputableGingko
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32 Questions

Which field of accounting is assigned to external accounting?

Financial accounting

What is not a function of external accounting?

Company management

Which is not a characteristic of external accounting?

Is customizable for each company

What field of accounting involves the use of statistics and comparative methods?

Statistics and comparative methods

Who primarily benefits from the financial statements prepared by external accounting?

Creditors

What type of accounting is focused on cost control and evaluating performance?

Cost and performance accounting

What is the main function of external accounting?

Monitoring and controlling a company‘s operations

Who is not an addressee of the financial statement?

Auditor

What does the operating result balance?

Receipt and Expenditure

What does balancing of receipts and expenditures result in?

Operating result

What is the correct definition for receipts in accounting?

Cash and cash equivalents that flow directly to the company within a period

What is the correct definition for costs in accounting?

Monetarily assessed consumption of goods and services due to the performance of services

Which function is not part of external accounting?

Monitoring and controlling a company‘s operations

Who is not the addressee of the financial statement?

Auditor

What does balancing of receipts and expenditures result in?

Operating result

What is the correct definition for receipts in accounting?

Cash and cash equivalents that flow directly to the company within a period

Which field of accounting is assigned to external accounting?

Financial accounting

What is not a characteristic of external accounting?

Designed by works council

What is the main function of external accounting?

Recording and summarizing financial transactions

Who is not an addressee of the financial statement?

Auditor

What does the operating result balance?

Receipts

What type of accounting is focused on cost control and evaluating performance?

Cost and performance accounting

What is the main function of external accounting?

Planning, monitoring, and controlling of a company‘s operations

Who primarily benefits from the financial statements prepared by external accounting?

Owners

What does the operating result balance?

Receipt and Expenditure

What is not a characteristic of external accounting?

Preparation of financial statements

Which field of accounting is assigned to external accounting?

Financial accounting

What is the correct definition for receipts in accounting?

Cash and cash equivalents that flow directly to the company within a period

What is the correct definition for costs in accounting?

Consumption respectively usage of economic goods (affecting net income)

What type of accounting is focused on cost control and evaluating performance?

Cost accounting

What does balancing of receipts and expenditures result in?

Financial balance

Who is not an addressee of the financial statement?

Auditor

Test your knowledge of the basics of business accounting with this multiple-choice quiz. Questions cover fields of accounting, including external accounting and its characteristics.

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