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First question

Determine if the following phases are true or false :


.‫حدد اى من العبارات االتيه " صح او خطا " بدون تعليق‬

1) accounting is an end rather than a means (×)

2) accounting is a means rather than an end (√)

3) accounting is sometimes described as the language of the business (√)

4) external users of accounting information including owners (√)

5) internal users of accounting information including owners (×)

6) bookkeeping is the same as of accounting (×)

7) bookkeeping is a part of accounting (√)

8) going concern assumption means that the business is a discontinuing enterprise (×)

9) management accounting information is historical in nature (×)

10) management accounting information is future in nature (√)

11) cost principle means that assets should be recorded at market value (×)

12) accounting entity concept means that the organization has a separate entity but not
separate from its owners (×)

13) certified public accountants offer a variety of accounting service to the public (√)

14) the main purpose of the accounting system is to meet the organization needs for
accounting information as efficiency as possible (√)

15)an accounting system consists of the personnel , procedures ,device & records used by
. an organization (√)

16) governmental accountant is an employee in a governmental unit (√)

17) private accountant is an employee in a certain firm (√)

18) stable currency assumption means that the purchasing power of currency is stable ( √ )

19) accrual basis means that revenue should be recorded at point of collection (×)

Dr / magdy kamel tel/ 01273949660

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