SECTION 1:Multiple choice.Read each question and possible answer carefully,then choose the best answer by the letter of your choice.

1.All the following are purposes of accounting EXCEPT:

a.Identifying economic events

b.Record transactions

c.Talk about confidential information

d.communicate information

2.bookkeeping can be defined as;

a.A cyclical process than can be traced

b.The final step in the accounting process

c.The recording of transactions in the books accounts

d.International guidelines and rules used when preparing accounting records

3_________Refers to moral principles that govern a person's behavior.

a.values

b.Ethics

c.Mission statement

d.vision statement

4.A________is a statement that outlines the mission and values of business.IT also outlines the behavior of professionals and their approach to the problems.

a.code

b.organization's philosophy

c.values

d.Mission statement

5.All of the following are internal users of accounting information EXCEPT:

a.customer's

b.owners

c.Investors

d.Employees