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1

Which of the following is not one of the three widely used types of accounting information?
A)Tax accounting
B)Corporate accounting
C)Management accounting
D)Financial accounting
2

Which one of the following is not considered a user of financial statements?
A)Creditors
B)Employees
C)Customers
D)All of the above are users of financial statement
3

Which of the following is not one of the primary financial statements?
A)Financial directory statement
B)Balance sheet
C)Income statement
D)Statement of cash flows
4

The financial statement that shows where a company stands at a specific date is:
A)Balance sheet
B)Income statement
C)Statement of cash flows
D)All three
5

The financial statement that shows the details and results of profit-related activities for a period of time is:
A)Financial directory statement
B)Balance sheet
C)Income statement
D)Statement of cash flows
6

In a corporate hierarchy, which is the highest level?
A)CEO
B)CFO
C)CIO
D)Board of directors
7

Which of the following is not an objective of financial reporting:
A)Provide information about economic resources, claims to resources, and changes in resources and claims
B)Provide information useful future cash flows
C)Provide information useful in making investment and credit decisions
D)Provide information useful to help achieve goals, objectives, and mission.
8

Which of the following is not an objective of managerial reporting:
A)Provide information about economic resources, claims to resources, and changes in resources and claims
B)Provide information useful in assessing past performance and future directions of the enterprise from external and internal sources
C)Provide information about decision-making authority and support and evaluating and rewarding performance
D)Provide information useful to help achieve goals, objectives, and mission
9

Which organization is the most authoritative source of generally accepted accounting principles?
A)AICPA
B)FASB
C)IMA
D)AAA
10

The Certified Public Accountant is licensed by:
A)The AICPA
B)The state
C)Universities
D)FASB





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