Complete the following sentences by choosing the correct answer

Give a name to the process that each person is carrying out.

h) Jane explains the action the company should take based on the latest financial Information. ______________________

i) Bill writes down all the transactions that take place each day. _______________________

j) Jack groups all transactions of the same type in a special book

_______________________

k) Sue explains to the managers what the sales figures for the year are.

___________________________________________

l) All sales figures for the day are stored in the

computer ___________________________________________

m) All the financial information for the accounting period is grouped together in special forms so that a company can easily understand its financial position

Transaction A transactionis a single financial exchange for a good, a service or an obligation

1) Accounting information is used by... to help them make financial decisions.

a) managers

b) potential investors

c) creditors

d) all of the above

2) Regardless of the type of business or the amount of money involved^:

a) all companies use identical accounting systems

b) common procedures are used in handling financial information

c) no standardized accounting system is used.

3) Public accountants may earn the title of CPA by:

b) becoming governmental accountants

b) paying a fee

c) fulfilling difficult requirements

d) obtaining a Bachelor of Arts degree in accounting

4) Private and governmental accountants are paid on a…… basis.

a) Salary

b) monthly

c) fee

d) weekly

Дата добавления: 2014-12-23