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Questions and Answers
Which field of accounting focuses on the reporting of an organization's financial information to external users?
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?
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?
What are practitioners of accounting known as?
- Regulators
- Stakeholders
- Accountants (correct)
- Economic entities
What term is often used interchangeably with accounting?
What term is often used interchangeably with accounting?
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What field of accounting focuses on the measurement, analysis, and reporting of information for internal use by management?
What field of accounting focuses on the measurement, analysis, and reporting of information for internal use by management?
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