introduction to financial accounting multiple choice questions and answers pdf


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PDF Chapter 1 Questions Multiple Choice

Which of the following financial statements is concerned with the company at a point in time? a Balance sheet b Income statement c Retained earnings 

  • Solution: Accounting gives value or information on income and cost for managers, the Company's tax liability for a certain year, and the financial necessities of an institution.

  • What is the correct option for the function of accounting Mcq?

    The correct answer is Related to financial transactions.
    The primary function of accounting is recording, classifying, summarizing, and reporting of financial transactions.

  • What is the introduction to financial accounting?

    Financial accounting is a branch of accounting wherein an organisation records, summarises, and reports their business transactions over a certain time period.

  • What are the objectives of accounting Mcq?

    The primary objective of accounting is to record and report an organisation's monetary exchanges, monetary execution, and incomes.
    The normalised announcement permits all partners and investors to evaluate the presence of a business.

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