CBSE Questions for Class 9 Elements Of Book Keeping And Accountancy Introduction To Book Keeping And Accounting Quiz 3 - MCQExams.com

Which of the following is/are the branch of accounting?
(P) Financial Accounting
(Q) Cost Accounting
(R) Management Accounting
  • (P)
  • (Q)
  • (R)
  • All of the above
Which of the following is/are not the branch of accounting?
  • Cost Accounting
  • Financial Accounting
  • Human Resources Accounting
  • All of the above
Which of the following is the branch of accounting?
(I) Human Resources Accounting
(II) Social Accounting
(III) Security Accounting
The correct answer is-
  • (I) & (II)
  • (II) & (III)
  • (I) & (III)
  • None of the above
The primary qualities that makes accounting information useful for decision-making are ________________.
  • Comparability and consistency
  • Materiality and timeliness
  • Relevance and reliabilty
  • Reliability and comparability
Which of the following groups/ parties are interested in the accounting information of the business?
  • Proprietors or owners
  • Creditors
  • Tax authorities
  • All of these
When information about two different enterprises has been prepared and presented in a similar manner, the information exhibits the characteristics of _______________.
  • Reliability
  • Consistency
  • Verifiability
  • Comparability
Which of the following are internal users of accounting information?
  • Board of directors
  • Partners
  • Managers
  • All of the above
Which of the following is/are the advantages of accounting?
  • Decision making relating to financial aspect
  • Evidence in legal matters relating to accounting
  • Provides information to interested parties
  • All of the above
Which of the following is/are external users of accounting information?
  • Shareholders/investors
  • Creditors
  • Government agencies
  • All of the above
What are the important objectives of accounting?
I. To maintain records of a business
II. Calculation of profit or loss
III. Depiction of financial position
IV. To make information available to various groups and users.
  • I and II
  • I and III
  • I, II and III
  • I, II, III and IV
Regulatory Agencies interested as users of accounting information includes __________.
  • Various Government departments
  • Agencies such as Company Law Board (CLB)
  • Registrar of Companies (ROC)
  • All of the above
Which of the following is/are characteristics of accounting information?
  • Understandability
  • Timeliness
  • Completeness
  • All of the above
Select the odd on in relation to users of accounting information.
  • Officers
  • Managers
  • Debtors
  • Board of directors
Identify the external users of financial information or financial statements ____________________.
  • Management of the business
  • CFO of the business
  • Employees of the business
  • Investors of the business
Which of the following is characteristic of accounting information?
P. Relevance
Q. Reliability
R. Comparability
Select the correct answer from the options given below ______________.
  • P
  • Q
  • R
  • All of the above
Accounting information is being used by __________.
  • Customers
  • Researchers
  • Both A & B
  • None of the above
Which of the following is characteristic of accounting information?
  • Verifiability
  • Neutrality
  • Completeness
  • All of the above
Accounting involves _________.
  • decision making for the management easy as financial results can be compared.
  • the records being put is a systematic pattern so that any point of time they can be used.
  • the financial information being stored in a meaningful way for taxation purpose
  • all of the above
Which of the following characteristics of accounting information primarily allows user of financial statements to generate predictions about an organization?
  • Reliability
  • Timeliness
  • Neutrality
  • Relevance
Regulatory Agencies, interested as users of accounting information's includes _____________________.
  • Various Government departments
  • Agencies such as Company Law Board (CLB)
  • Registrar of Companies (ROC)
  • All of the above
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