English_for_Finance_and_Banking
ž TESTS
I. Choose the correct answer:
- Accounting can be divided into such phases:
a) capture and recording of financial information;
b) processing and communication information;
c) capture, communication and processing of the financial information.
- The left hand-side of the double entry system is called:
a) the debit side;
b) the credit side.
The right hand-side of the double entry system is called:
a) the debit side;
b) the credit side.
- The principle of double-entry bookkeeping was made:
a) in France;
b) in England;
c) in Northern Italy;
d) in South Italy;
4. Balance sheet is drawn :
a) annually;
b) half-yearly;
c) quarterly;
d) monthly;
e) all are right.
II. Match what statements are true and what are false. Results write to the table:
1.The accounting system is determined to a significant extent by the level and direction of the economic system’s development.
2.Accounting is used to describe the transactions entered into by only one kind of organization.
3.Accounting can show the managers or owners of a business whether or not the business is operating at a profit.
4.Accounting equation states that a firm’s assets must equal its liability plus its owners’ equity.
5.Accounting is divided into two phases: capturing and processing of financial information.
6.The balance sheet shows a lot of useful financial information, but it does not show everything.
Table
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True |
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False |
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12 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145