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Test Accounting in your company
Agenda
QUESTION 1: WHY IS IT IMPORTANT AS AN ENTREPRENEUR TO KNOW THE BASICS OF ACCOUNTING?
To do your own accounting
To know where the numbers come from and what to expect from others
QUESTION 2: CAN YOU RELY ON BANK STATEMENTS TO MANAGE YOUR BUSINESS?
Yes, they provide us with information on the money owed to us
No, it only provides cash movement information
No, it only shows the taxes to be paid
Yes, it shows us the economic trends and patterns of the business
QUESTION 3: WHAT DOES AN ACCOUNTANT DO?
They oversee all income and expenses
They ensure compliance with financial obligations
Assist in financial decision making
All of the above
QUESTION 4: WHAT IS ACCOUNTING FOR?
To have a real and clear picture of the financial situation of the business
To convince investors to put capital into our business
QUESTION 5: WHICH STATEMENT IS CORRECT FOR THE ACCRUAL METHOD OF ACCOUNTING?
Income is recorded exactly when the money comes in and expenses when they are paid
Income is recorded when the sale is made and expenses are recorded when the purchase is made
QUESTION 6: WHICH STATEMENT IS CORRECT?
The cash basis method of accounting is the one that portrays the equity reality of the business
The cash basis method of accounting records accounts payable and receivable
The cash basis method of accounting is simple and straightforward
The cash basis method of accounting only serves to track inventories
QUESTION 7: WHAT IS THE BEST ACCOUNTING METHOD?
On an accrual basis
On a cash basis
It depends on your type of business and the regulations in force in your country
None of the above
QUESTION 8: WHAT ARE THE ADVANTAGES OF PROFESSIONAL ACCOUNTING SOFTWARE?
It makes our lives easier by automating processes
It makes our lives easier when interpreting the financial information it reports
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INCORRECT QUESTIONS
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What is the error?
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