Basics of Accounting

Assessment : Graded Quiz

Accounting concepts Assessment

Back to Course page

Quiz Result

50% Total Score

Congratulations
You Have Passed This Quiz

 Retake

1 Statement of changes in equity is a part of

financial accounting covered by:

Selected Answer

Cash Based Accounting

+

Correct Answer

Financial Statements

2 The two common rules used to present the

financial information are

Selected Answer

GAAP and IFRS ✓

3 Financial Accounting is helpful as it helps an

organization in:

Selected Answer

Financial Negotiation ✓

4 Accounting generally helps a company not to:

Selected Answer

Creation of budget
+

Correct Answer

Analyze the quality of the product

manufactured

5 In order to help Strategic Planning of an

organization ______is highly helpful.

Selected Answer

Capital Budgeting
+

Correct Answer

Managerial Accounting

6 Management Accounting provides prompt

information and cost ascertainment and there
helps in:

Selected Answer

Establish relationship between two entities

+

Correct Answer

Determining the price of a product or service

7 Financial Information like Balance Sheet, Income

Statement and Cash Flow and Financial Position
of a company are communicated. This technique
is known as?

Selected Answer

Financial Management
+

Correct Answer

Accounting

8 Financial statements presented in the form of

reports are used by

Selected Answer

All of the Above ✓

9 The accounting format in which the revenue is

considered irrespective of cash payable and
receivable:

Selected Answer

Accrual Basis ✓

10 The accounting process aims to:

Selected Answer

All of the Above ✓


View the Test Details

Athena Global Education is an Online Education

provider offering self-paced Masters, Doctorate and
Microcredit programs in collaboration with European
Universities and Reputed Professional Qualifications
Authority. Athena is the latest venture of Westford
Education Group, a higher education services
provider since 2009.

Subscribe to our newsletter

Email

Subscribe

Westford Education Group (WEG) is a leading

provider of accredited international education to
aspiring learners across the globe. Westford is fast
emerging as a reputed brand of global education
providers.

UK

Athena Global Education LTD

The Sherrington Building, Magdalen

Centre,

The Oxford Science Park, Oxford OX4

4GA. UK

Phone: +44 186 578 4545

MIDDLE EAST

Athena Global Education FZE

Block L-3, First Floor,

P O Box 519265, Sharjah Publishing City,

Free Zone, Sharjah, UAE

Phone : +971 565387510

Phone : +971 65 31 2511

All Copyrights reserved @ Athena Global Education 2023

Ask Sam