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    Sample Questions For Itb Modular Exam

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    This document contains 10 sample questions for an ITB modular exam on accounting and finance topics. The questions cover topics such as the definition of accounting, bookkeeping, financial accounting, controllers, current assets, functions of money, and large credit card issuers. The questions range from easy to difficult and include the correct answer choice for each.

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    Sample Questions For Itb Modular Exam

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    793 views4 pages
    This document contains 10 sample questions for an ITB modular exam on accounting and finance topics. The questions cover topics such as the definition of accounting, bookkeeping, financial accounting, controllers, current assets, functions of money, and large credit card issuers. The questions range from easy to difficult and include the correct answer choice for each.

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    Sample Questions for Itb Modular Exam

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    This document contains 10 sample questions for an ITB modular exam on accounting and finance topics. The questions cover topics such as the definition of accounting, bookkeeping, financial accounting, controllers, current assets, functions of money, and large credit card issuers. The questions range from easy to difficult and include the correct answer choice for each.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    793 views4 pages

    Sample Questions For Itb Modular Exam

    Uploaded by

    _23
    This document contains 10 sample questions for an ITB modular exam on accounting and finance topics. The questions cover topics such as the definition of accounting, bookkeeping, financial accounting, controllers, current assets, functions of money, and large credit card issuers. The questions range from easy to difficult and include the correct answer choice for each.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 4

    SAMPLE QUESTIONS FOR ITB MODULAR EXAM

    1. _____________ is a comprehensive system for collecting, analyzing, and communicating


    financial information.

    a. Bookkeeping

    b. Accounting

    c. Controlling

    d. Auditing

    e. Budgeting

    b (page 488, easy)

    2. ______________ is the recording of financial transactions.

    a. Bookkeeping

    b. Accounting

    c. Controlling

    d. Auditing

    e. Budgeting

    a (page 488, easy)

    3. Financial accounting is

    a. a systematic examination of a company’s accounting system to determine whether its


    financial reports fairly represent its operations.

    b. a field of accounting that serves internal users of a company’s financial information.

    c. the rules and procedures governing the content and form of financial reports.

    d. the field of accounting concerned with external users of a company’s financial


    information.

    e. a bookkeeping system that balances the accounting equation by recording the dual effects
    of every financial transaction.

    d (page 489, moderate)

    4. A(n) ____________ is a salaried accountant hired by a business to carry out its day-to-day
    financial activities.
    a. public accountant

    b. advisor

    c. private accountant

    d. controller

    e. auditor

    5. Current assets are listed in order of ________ on the balance sheet.


    a. age

    b. the alphabet

    c. liquidity

    d. dollar value

    e. cost

    c (page 497, difficult)


    b (page 520, moderate)

    a (page 520, moderate)

    8. Modern currency is light and easy to handle, thus meeting the criteria of

    a. portable.

    b. divisible.

    c. stable.

    d. durable.

    e. valuable.

    a (page 520, moderate)

    9. David is saving $25.00 a week toward getting a new truck. This illustrates the _______ function
    of money.

    a. basis for banking system

    b. medium of exchange

    c. store of value

    d. unit of account

    e. payment for labor

    c (page 520, difficult)

    10. _______ is the world's largest credit card issuer.

    a. Citi Cards

    b. BancOne

    c. NationsBank
    d. Wells Fargo

    e. Chase Manhattan

    a (page 523, moderate)

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