EPPD1033 SECTION A Instructions: This section contains 30 questions. Each question earries 0.5 polnts. 1. The term 'economic event' is referred as a: A Purchase B. Sales C. Transactions D. Change in ownership 2. Which of the following describes the process of communicating accounting information: A. Identify accounting information B. Determine transactions that can be translated into currency values C Provide financial reporting D. Recording and classifying economic events 3, Which of the following events cannot be measured in financial units A The appointment of an accountant to perform accounting works. B. Payment of income taxes C. The sale of obsolete office equipment D. Payment of asset maintenance 4. The use of computerized accounting system A. Has made the recording process more efficient B. Does not use the same principles as manual accounting systems C. Simplify the process of identifying cconomic events D, is economical only for large businesses 5. The systematic accounting process and referring to the diary of economic events in chronological manner is the process of A Identification B. Analyzing C Recording D. Communicating 6. Bookkeeping differs from accounting in that bookkeeping primarily involves the following process A. Identify economic events B. Communicating accounting information C. Recording transactions D. Analyze accounting information