- (A) Identification of economic event
- (B) Communication of financial information
- (C) Recording financial information
- (D) Making decisions about business
Accounting Mcqs
- (A) Government agencies
- (B) investors
- (C) Creditors
- (D) Managers
- (A) Analyzing
- (B) Preparing financial statements
- (C) Recording financial information
- (D) Auditing the books of accounts
- (A) Communicating→Recording→Identifying
- (B) Recording→Communicating→Identifying
- (C) Identifying→communicating→recording
- (D) Identifying→recording→communicating
- (A) Cash
- (B) Bank statement
- (C) Transaction
- (D) Exchange of money
- (A) Long life of assets
- (B) Value of assets
- (C) Intangible nature of assets
- (D) Future economic benefits
- (A) Identifying transactions
- (B) Preparing “T Accounts”
- (C) Preparing financial statements
- (D) Preparing trial balances
- (A) Present event
- (B) Future event
- (C) Past event
- (D) None of them
- (A) Possessed
- (B) Owned
- (C) Controlled
- (D) Used
- (A) Expenses
- (B) Obligations
- (C) Creditors
- (D) Income or gain
