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Types of Accounting questions with actual answers.
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  • Accounting 101

Types of Accounting questions with actual answers.

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  • August 29, 2024
  • 1
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • types of accounting questions with actual answers

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  • Accounting 101
  • Accounting 101

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Types of Accounting questions with
actual answers.

Bookkeeping ANS - Keeping financial records and preparing financial statements



Management accounting ANS - The use of a company's accounting data by its managers for planning and
control



Cost accounting ANS - Working out the unit costs of a manufactured product, including indirect costs



Tax accounting ANS - Calculating how much tax an individual or company should pay - or trying to
reduce this figure



Auditing ANS - Inspection and evaluation of financial records by a second set of accountants



Creative accounting ANS - Using all available accounting procedures and tricks to disguise the true
financial position of a company



Historical cost accounting ANS - The recording of assets at their original purchase price, minus
accumulated depreciation charges



Financial accounting ANS - Recording transactions (purchases and sales) in ledgers

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