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ExercisesforUnitTwo

MultipleChoices

A1.Whichofthefollowingusersarenotexternalusersofaccountinginformation?

A.ManagersB.Creditors

C.InvestorsD.Analysts

D2.Whichofthefollowingisnotanaccountingstandard-settingorganization?

A.FASBB.IASB

C.MOFD.GAAP

C3.Thediversityofinterestedpartiesleadstoalogicaldivisioninthedisciplineofaccounting:financialaccountingand_______.

A.costaccountingB.financialmanagement

C.managerialaccountingD.taxaccounting

D4.CPAsprovideservicesofthefollowingexcept________.

A.auditB.consulting

C.taxD.holdingexamination

A5.Whichofthefollowingserviceinvolvesprovidinganindependentreportontheappropriatenessoffinancialstatements?

A.AuditB.Tax

C.ConsultingD.Budgeting

D6.Accountantsemployedbylargecorporationsmayworkintheareasofthefollowingexcept_______.

A.productcostingandpricingB.budgeting

C.internalauditingD.productproducing

B7.______informationistrustedbyusers.______informationishelpfulincontrastingorganizations.

A.RelevantB.Reliable

C.ComparableD.Separate

A8.The______assumptionassumesthatabusinesswillcontinueinthesamelinesofthebusinessasthoseinwhichitiscurrentlyinvolved.

A.Going-concernB.accountingperiod

C.accountingentityD.monetaryunit

B9.The______assumptiona