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Questions and Answers
Which of the following best describes accountancy?
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?
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?
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?
Which of the following is NOT a branch of commerce?
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Who are the intended users of accountancy information?
Who are the intended users of accountancy information?
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