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Accounting Essentials Quiz
5 Questions
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Accounting Essentials Quiz

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Questions and Answers

Which field of accounting focuses on the reporting of an organization's financial information to external users?

  • Cost accounting
  • Management accounting
  • Financial accounting (correct)
  • Tax accounting

    • What is the main purpose of accounting?

  • To convey information to a variety of stakeholders (correct)
  • To prepare financial statements
  • To measure and analyze financial transactions
  • To process information about economic entities

    • What are practitioners of accounting known as?

  • Regulators
  • Stakeholders
  • Accountants (correct)
  • Economic entities

    • What term is often used interchangeably with accounting?

    <p>Financial reporting</p> Signup and view all the answers

    What field of accounting focuses on the measurement, analysis, and reporting of information for internal use by management?

    <p>Management accounting</p> Signup and view all the answers

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