Questions

Question 1

what is the correct statement for information system?

Answer 1

an information system that identifies, records, and communicates economic information about a business entity.

Question 2

What is the correct definition of systematic process?

Answer 2

a series of steps or procedures that are followed in a logical and consistent manner.

Question 3

Who popularized double entry bookkeeping

Answer 3

Luca pacioli

Question 4

Which book did roman augustus document his financial transactions

Answer 4

Reg Gestae divi Augusti

Question 5

Which accounting concept states that a business is separate from its owner

Answer 5

Entity concept

Question 6

Accounting equations

Answer 6

Assets = Liabilities+ Equity

Question 7

Note as representation of obligation and debts a company owes two external party

Answer 7

Liabilities

Question 8

Identified as the doesn’t involve commercial exchanges and typically related to social responsibility or personal activities

Answer 8

Non-business transactions

Question 9

In types of business documents under contract it defines a roles and contribution of business partners.

Answer 9

Partnership agreement

Question 10

It refers to a cost that is incurred in a course of conducting business or personal activities. It represents money spend on accuired goods and services. Deducted from revenue

Answer 10

Expense

Question 11

Note as simple interest in the assets of the company deducting liabilities?

Answer 11

Equity

Question 12

Cash, equity, property, equipment is an example of?

Answer 12

Assets