The History of Accounting - SS1 Accounting Past Questions and Answers - page 1
What basic accounting technique did ancient civilizations use?
Recording transactions on clay tablets.
Using spreadsheets to keep track of economic activities.
Using advanced software to manage financial data
Memorizing financial transactions.
What accounting system was developed in Italy during the Middle Ages?
Double-entry bookkeeping.
Single-entry bookkeeping.
Triple-entry bookkeeping
Quadruple-entry bookkeeping
What led to the formalization of accounting in the 19th century?
The rise of large corporations.
The invention of the printing press.
The development of modern banking.
The discovery of oil.
What area of specialization emerged in accounting in the 20th century?
Management accounting.
Forensic accounting.
Tax accounting.
Financial accounting.
How did the industrial revolution impact the development of accounting?
How has accounting evolved in response to new technologies?