Tema
Q:
Multiple Cholce Questlon
The purpose of the Financial Accounting Standards Board is to
certify private accountants
define generally accepted accounting principles
regulate and inspect the accounting departments of organizations
Q:
Multlple Cholce Questlon
The recording of business transactions is done by whe__ whereas classify and summarize financial data to help managers in decision-making.
accountants; investors bookkeepers; accountants
bookkeepers; auditors
Q:
Questien 5 (3 marks)
Emma has an outstanding balance of \( \$ 2690 \) on her credit card at the beginning of December. The interest
rate charged on the credit card is \( 18 \% \) pa.
(a) Calculate the interest that Emma would be charged on the card for the month of December if she mad
no further repayments.
(b) In December Emma repays \( \$ 760 \) and makes purchases of \( \$ 1185 \). Calculate the outstanding balance o
Emma's credit card at the end of December.
c) Calculate the interest that is payable for December.
Q:
Multiple Cholce Question
What type of information is reported by accounting to stakeholders?
ecompetitive
operational
financial
Q:
Multiple Cholce Questlon
The first step in the accounting cycle is to
perform an internal audit
analyze source documents
record transactions in journals
Q:
Multiple Cholce Question
The method a company uses to record and summarize accounting data into reports is a(n)
accounting system
transaction system
financial statement
Q:
Imma has an outstanding balance of \( \$ 2600 \) on her credit card at the beginning of December. The interest
nate charged on the credit card is \( 18 \% \) pa.
(a) Calculate the interest that Emma would be charged on the card for the month of December if she made
no further repayments.
(b) In December Emma repays \( \$ 760 \) and makes purchases of \( \$ 1185 \). Calculate the outstanding balance on
Emma's credit card at the end of December.
(c) Calculate the interest that is payable for December.
(s) 30.35
Q:
Multlple Select Question
Select all that apply
Which three activities are part of the function of accounting?
\( \square \) prioritizing financial transactions
\( \square \) planning financial transactions
\( \square \) interpreting financial transactions
\( \square \) recording financial transactions
\( \square \) classifying financial transactions
Q:
Multiple Cholce Question
What is considered to be the "language of business"?
operations
accounting
investing
Q:
Multiple Select Questlon
Select all that apply
What are two major purposes of accounting?
\( \square \) to provide economic predictions by which to guide the firm
\( \square \) to help managers make well-informed decisions
\( \square \) to report financial information to interested stakeholders
\( \square \) to determine the strength of the firm's stakeholders
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