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Title: Subject: ACC 111 –Financial Accounting & Reporting
Description: A practice quiz with an answer key
Description: A practice quiz with an answer key
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ACC 111 – Financial Accounting and Reporting
Practice Quiz (answer key at the last page)
1
...
True
b
...
The term bookkeeping and accounting are synonymous
...
True
b
...
A corporation is an economic unit that is legally separated from its owners
...
True
b
...
Buying and selling of products are called trading
...
True
b
...
Professional accountant that employed in SGV & Co
...
a
...
False
6
...
Academe
b
...
Private Accounting
d
...
Which area of public accounting means the examination of financial statements by a
CPA for the purpose of expressing an opinion as to the fairness of the statements?
a
...
External Auditing
c
...
Internal Auditing
8
...
a
...
Government Accounting
c
...
Financial Accounting
9
...
a
...
Partnership
c
...
Cooperative
Answer Key
1
...
False
3
...
True
5
...
Private Accounting
7
...
Financial Accounting
9
Title: Subject: ACC 111 –Financial Accounting & Reporting
Description: A practice quiz with an answer key
Description: A practice quiz with an answer key