Exam 1: Accounting and Financial Analysis

……………….is the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events, which are in part, at least of financial character and interpreting the results there of.

……………….journal is used to record credit sale of goods

The father of Double Entry system is………………

The objective of financial accounting is to find out…………………..

……………explains what has happened to a business unit as a result of operations between two balance sheet dates.

Which among the following is not a management accounting technique?

Accounting designed to serve parties external to the operating responsibility of the firm is termed as…………….

……………..is the process of identifying the financial strengths and weakness of the firm by properly establishing relationship between the items of balance sheet and Profit and Loss Account

Cost Accounting and Management Accounting are ……………….. in nature.

Management accounting has a ……….. scope than cost accounting.

…………….is the amount of expenditure [actual or notional] incurred on or attributable to a given thing.

The ………….Management is mainly concerned with the policy decisions.

Which among the following do not belong to the category of Accounting ?

………………..is the technique and process of ascertaining costs

………..is the process of accounting for cost which includes the application of cost control methods and ascertainment of profitability of activities

Management accounting provides invaluable services to Management in performing…………..

The analysis done by persons who have access to the books of account and other information related to the business is termed as……………

The Branch of accounting concerned with collection, determining and controlling cost of products and services is called………………

………..Accounting is concerned with historical data

In ………………..type of analysis , financial statements for a number of years are reviewed and analyzed.