2. Which financial statement displays the revenues and expenses of a company for a period of time?

A) income statement
B) balance sheet
C) cash flow statement
D) statement of stockholderâ??s equity



3. Which of the following statement is true about purpose of accounting?

A) The purpose of accounting provide information to manager
B) Accounting purpose gives quantitative information to economic decision makers
C) Provision of base for decision making is purpose of accounting
D) All of above statement are true regarding purpose of accounting



4. The two most common specialized fields of accounting in practice are?

A) Environmental accounting and financial accounting
B) Managerial accounting and financial accounting
C) Managerial accounting and tax accounting
D) Financial accounting and accounting systems



5. Accounting is the language of?

A) Proprietor
B) School
C) Business
D) Management