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Home  arrow Student Resources  arrow Chapter 1: The accounting world  arrow Multiple choice questions

Multiple choice questions

Try the following multiple choice questions to test your knowledge of this chapter. Once you have completed the questions, click on Submit Answers for Grading to get your results.

These questions were originally prepared by Paul Thompson and have been amended and updated for the seventh edition by John Dyson.

This activity contains 9 questions.

Question 1.
Accounting is BEST described as:

End of Question 1

Question 2.
Which of the following statements BEST describes a limited liability company?

End of Question 2

Question 3.
Which of the following statements is TRUE?

End of Question 3

Question 4.
The restrictions relating to the formation and running of companies are:

End of Question 4

Question 5.
Which branch of accounting is MOST concerned with the collection of detailed financial data for use in planning and controlling an entity?

End of Question 5

Question 6.
Which branch of accounting is MOST closely associated with acquiring and deploying the short term and long term finance required by an entity?

End of Question 6

Question 7.
Which of the following is NOT one of the major professional accountancy bodies in the UK?

End of Question 7

Question 8.
Which of the following activities is NOT an accounting function?

End of Question 8

Question 9.
Which economic sector in the UK has appeared to be in decline over the past few decades?

End of Question 9

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