ACCOUNTING CERTIFICATION EVALUATION
EXAMS 2026 QUESTIONS WITH ANSWERS
GRADED A+
◉ Financial Accounting. Answer: the branch of accounting that prepares
financial statements for use by owners, creditors, suppliers, and other
external stakeholders
◉ Managerial Accounting. Answer: the branch of accounting that
provides reports and analysis to managers to help them make informed
business decisions
◉ Generally Accepted Accounting Principles (GAAP). Answer: a set of
accounting standards that is used in the preparation of financial
statements
◉ Balance Sheet. Answer: A financial statement that reports assets,
liabilities, and owner's equity
◉ Accounting Equation. Answer: Assets = Liabilities + Owner's Equity
EXAMS 2026 QUESTIONS WITH ANSWERS
GRADED A+
◉ Financial Accounting. Answer: the branch of accounting that prepares
financial statements for use by owners, creditors, suppliers, and other
external stakeholders
◉ Managerial Accounting. Answer: the branch of accounting that
provides reports and analysis to managers to help them make informed
business decisions
◉ Generally Accepted Accounting Principles (GAAP). Answer: a set of
accounting standards that is used in the preparation of financial
statements
◉ Balance Sheet. Answer: A financial statement that reports assets,
liabilities, and owner's equity
◉ Accounting Equation. Answer: Assets = Liabilities + Owner's Equity
