The purpose of financial accounting is ___________?

Related Mcqs:

1. The type of accounting, which reports financial and non-financial data about the cost of material and acquiring of resources is classified as ____________?

   A. material accounting
   B. cost accounting
   C. supplies accounting
   D. business accounting

2. The type of accounting which measures, reports and analysis of the non-financial and financial information to help in decision making is called _____________?

   A. financial accounting
   B. management accounting
   C. cost accounting
   D. decision accounting

3. The purpose of management accounting is to ___________?

   A. past orientation
   B. help banks make decisions
   C. help managers make decisions
   D. help investors make decision

4. An accounting which records and measures the business transactions and is followed by generally accepted accounting principles is classified as ____________?

   A. external accounting
   B. internal accounting
   C. business accounting
   D. financial accounting

5. In process costing method, when the work done in current accounting period, and beginning inventory before current accounting period, is classified as _________?

   A. partial inventory costing method
   B. current period inventory method
   C. Last-in, first-out method
   D. First-in, first-out method

6. In cost accounting, the financial way of charging price for product above the cost, of acquiring or producing the goods is known as ___________?

   A. sales margin
   B. cost margin
   C. Gross margin
   D. income margin

7. In financial accounting, the investors, banks, suppliers and government agencies are classified as _____________?

   A. external parties
   B. internal parties
   C. environmental parties
   D. transactional parties

8. An availability of financial information, to oversee operations and system of accounting is known as ____________?

   A. manager ship
   B. controllership
   C. proprietorship
   D. functional line

9. In accounting, the cost incurred in past or in historical financial statements is classified as ________?

   A. actual cost
   B. budgeted cost
   C. past cost
   D. incurred cost

10. The non-financial and financial aspects of the plan by the company management, is classified as ___________?

    A. complexity
    B. process
    C. budget
    D. batching