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Accounting Mcqs — Test 3

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Question 1
Keeping the log of financial information in books of original entries is called__________?
Question 2
Which of the following is the external user of financial statements?
Question 3
Which of the following is the internal user of financial statements?
Question 4
_________ is the first phase of accounting cycle?
Question 5
Financial statements differ from management account because
Question 6
________ is a separate legal entity that Total capital can be divided in many shares.
Question 7
An asset posses which of the following?
Question 8
Liabilities are which of the following?
Question 9
________ is the gross inflow of economic benefits?
Question 10
The gross decrease in economic benefits for the business are what?