10 True or False - correct a false statement using the "show your work"
10 Multiple Choice
7 Fill in the Blank (use word bank below)
2 Multiple Selection
Word Bank for Fill in the Blank
accounting cycle
clerical
education
experience
government
International Financial Reporting Standards
investor
make decisions
one year
owner
sole proprietorship
10 True or False - correct a false statement using the "show your work"
10 Multiple Choice
7 Fill in the Blank (use word bank below)
2 Multiple Selection
Word Bank for Fill in the Blank
accounting cycle
clerical
education
experience
government
International Financial Reporting Standards
investor
make decisions
one year
owner
sole proprietorship
Preparing your income tax return is made easier by a knowledge of accounting.
A knowledge of accounting is not helpful to people who own their own business because other employees do the accounting tasks.
Many senior management positions require one of the three accounting designations (CA, CMA, CGA).
Computers have eliminated six steps of the accounting cycle.
A medical clinic is considered to be a merchandising business.
A merchandising business buys goods and resells them at a higher price.
A non-profit organization is any firm that has recently lost money on its operation.
Shareholders are the owners of a corporation.
A bookkeeper may also be called an accounting clerk.
Computers will soon make accounting skills unnecessary.
A good accounting system should provide adequate information for the use of
Auditing may be described as
Accounting controls serve to promote employee
Which of the following is not a merchandising firm?
A business with more than one owner is called
A fiscal period may be described as
A business called Holiday Homes Ltd. is organized as
Computers are important in accounting but they cannot perform the task of
Public accountants are different from professional accountants because they
The three Canadian accounting designations (CA, CGA, CMA) are similar in that they all
The work of an accountant requires more
The usual length of a fiscal period is
A business called J. Armstrong, Landscaper is an example of the type of business organization called a(n)
The
Computers have not eliminated the need for accounting skills because they cannot
In 2011, new accounting rules were introduced in Canada to better match global standards. These rules are called theIn 2011, new accounting rules were introduced in Canada to better match global standards. These rules are called the
Name three other groups that might be interested in a firm's financial information.
The main activities involved in accounting are
The number-crunching activities that computers do very well are: