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Question 4 Which of the following is an example of the use of accounting information? Select one: a. A shareholder accessing a company's annual report to help with their investing decisions. O b. A bank requiring reports generated from the business' accounting system to make a lending decision. O C. All of these are examples of the use of accounting information. O d. A business owner using information gathered from the business' accounting system to plan, control and make decisions. Question 9 Accounting can be divided into two broad branches. They are: Select one: a. Management and financial. O b. Taxation and management. . Public and private. O d. Commercial and non-commercial. Question 48 A sole proprietor who owns a newsagency takes home stationery and exercise books for his children to use at school. This would be considered to be: Select one: O a. A decrease in assets and a decrease in equity because by taking the stationery items the owner has made a drawing from the business. O b. An increase in equity and a decrease in assets because the sole proprietor purchased the inventory. . An increase in assets and an increase in equity. O d. An expense because an asset has been used for personal use. Question 82 The office supplies stock account is a/an: Select one: O a. asset. O b. expense. OC. liability. O d. income. Question 42 A chronological record of all the transactions of an entity is provided in the: Select one: O a. Trial balance. O b. General ledger O c. General Journal. O d. Chart of accounts

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