Podcast
Questions and Answers
What is the primary difference between accounting and finance?
What is the primary difference between accounting and finance?
- Accounting is the language of business, while finance is the knowledge of how to make accounting.
- Accounting is a systematic process, while finance is an Accounting Software.
- Accounting is considered an art and a science, while finance is purely a science.
- Accounting focuses on managing numbers and accounts, while finance analyzes growth patterns. (correct)
Why is accounting considered both an art and a science?
Why is accounting considered both an art and a science?
- Because it summarizes the results of financial transactions.
- Because it uses Tally ERP 9 software.
- Because it is based on accounting concepts and conventions. (correct)
- Because it involves interpreting financial information.
What is accountancy?
What is accountancy?
- The use of Tally ERP 9 software.
- The knowledge of how to make accounting. (correct)
- The process of recording financial transactions.
- The process of interpreting financial information.
What does finance management primarily focus on?
What does finance management primarily focus on?
Which software is mentioned as an Accounting Software in the text?
Which software is mentioned as an Accounting Software in the text?
What does accounting report on in a company?
What does accounting report on in a company?
What is the primary function of accounting?
What is the primary function of accounting?
Which objective of accounting involves maintaining a systematic record of transactions like purchase and sales of goods?
Which objective of accounting involves maintaining a systematic record of transactions like purchase and sales of goods?
How does accounting contribute to decision making in a business?
How does accounting contribute to decision making in a business?
Which function of accounting helps in preventing frauds by recording financial information in a systematic manner?
Which function of accounting helps in preventing frauds by recording financial information in a systematic manner?
Why is it essential for a business to meet all legal requirements in terms of accounting?
Why is it essential for a business to meet all legal requirements in terms of accounting?
What is the phase in the accounting process that involves interpreting financial data?
What is the phase in the accounting process that involves interpreting financial data?
