Fundamentals of ABM 1 - Multiple Choice Questions
1. 1. What is the best definition of accounting?
A. A study of laws
B. A form of writing
**C. A system of recording and summarizing business transactions**
D. A branch of mathematics
2. 2. Which of the following describes the nature of accounting?
A. Legal in nature
**B. A service activity**
C. Religious in nature
D. An art of guessing
3. 3. Which of these is a primary function of accounting?
A. Selling products
B. Training employees
**C. Providing financial information**
D. Recruiting staff
4. 4. Who is considered an external user of accounting information?
A. Manager
**B. Investor**
C. Employee
D. Owner
5. 5. Which of the following is NOT a branch of accounting?
A. Tax Accounting
**B. Biological Accounting**
C. Auditing
D. Financial Accounting