Accountancy vs Commerce
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Questions and Answers

Which of the following best describes accountancy?

  • The process of communicating financial information about a business (correct)
  • The process of satisfying human wants
  • The process of exchanging goods and services
  • The process of trading entities with economic value

    • What is commerce primarily done for?

  • To exchange goods and services
  • To satisfy human wants (correct)
  • To communicate financial information
  • To trade entities with economic value

    • What is the form of communication in accountancy?

  • Trading of entities with economic value
  • Financial statements (correct)
  • Barter of goods and services
  • Selection of relevant information

    • Which of the following is NOT a branch of commerce?

    <p>Goods</p> Signup and view all the answers

    Who are the intended users of accountancy information?

    <p>Managers and shareholders</p> Signup and view all the answers

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