Type of accounting which reports to external parties of organization is known as

A cost accounting
B decision accounting
C financial accounting
D management accounting

Correct Answer: financial accounting

Type of accounting which reports to external parties of organization is known as financial accounting. Financial accounting is a specific branch of accounting involving a process of recording, summarizing, and reporting the myriad of transactions resulting from business operations over a period of time.
Bissoy MCQ
#Management #Management Accounting

Related Questions

Type of accounting, which reports financial and non-financial data about cost of material and acquiring of resources is classified as
A material accounting
B cost accounting
C supplies accounting
D business accounting
Type of accounting which measures, reports and analysis non-financial and financial information to help in decision making is called
A financial accounting
B management accounting
C cost accounting
D decision accounting
Which of the following management accounting systems places a very strong emphasis on incorporating data relating to its competitors in the preparation of management reports?
A Activity based management
B Flexible budgeting
C Strategic management accounting
D Sales variance analysis
An accounting which records and measures business transactions and is followed by general accepted accounting principles is classified as
A external accounting
B internal accounting
C business accounting
D financial accounting
70 students are enrolled in management, Accounting and Marketing course. 40 student are management,35 in accounting and 30 in marketing, 15 students are enrolled all course. How many student are enrolled in exactly tow of the course.
A 6
B 9
C 8
D 5
70 students are enrolled in Management, Accounting and Marketing. 40 students are in Management, 35 are in Accounting, and 30 are in Marketing. 15 students are enrolled in all three courses. How many of the students are enrolled in exactly two of the courses?
A 8
B 5
C 6
D 9
70 students are enrolled in Management, Accounting and Marketing courses. 40 students are in Management, 35 in Accounting and 30 in marketing. 15 students are enrolled in all three courses. l-low many of the students are enrolled in exactly two of the courses? '
A 6
B 9
C 8
D 5
In process costing method, when work done in current accounting period and beginning inventory before current accounting period, is classified as
A partial inventory costing method
B current period inventory method
C Last-in, first-out method
D First-in, first-out method
Which of the following is the example of external users of accounting information
A Government
B Owners
C Management
D Employee
Which type of organization has no place in the organization chart
A Informal organization
B Formal organization
C business or organization
D strategic organization

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